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Bill Status of SB1734 96th General Assembly
Short Description: STATE-FUNDED PENSION INVESTMNT
Senate Sponsors Sen. Jeffrey M. Schoenberg
Last Action
| Date | Chamber | Action | | 4/3/2009 | Senate | Rule 3-9(a) / Re-referred to Assignments |
Statutes Amended In Order of Appearance
| 40 ILCS 5/Art. 25 heading new | |
Synopsis As Introduced Amends the Illinois Pension Code. Creates the Illinois Public Employees' Retirement System as an investment system for the 5 State-funded retirement systems. Provides for the transfer of assets to the Illinois Public Employees' Retirement System for investment purposes from the Teachers' Retirement System of the State of Illinois, the State Universities Retirement System, and the Illinois State Board of Investments (who currently invests for the General Assembly Retirement System (GARS), the Judges Retirement System of Illinois (JRS), and the State Employees' Retirement System of Illinois (SERS). Makes other changes related to investment and the ethics of investing retirement system and pension fund assets. Amends various Acts concerning ethics and to replace references to the Illinois State Board of Investment with references to the Illinois Public Employees' Retirement System. Effective immediately.
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