Section 4405.10  Authority

This Part is promulgated by the Director of Insurance of the State of Illinois to implement Section 1A-109 which requires all pension funds to file an annual statement with the Department of Insurance.  Section 1A-103 of the Illinois Pension Code empowers the Director to promulgate rules necessary for the administration and enforcement of the Illinois Pension Code [40 ILCS 5/1A-103].

(Source:  Amended at 22 Ill. Reg. 15308, effective August 7, 1998)

Section 4405.20  Purpose and Scope

The purpose of this Part is to prescribe the format in which the Department of Insurance will accept the filing of annual statements from all pension funds.  All pension funds required to file an annual statement under Section 1A-109 of the Illinois Pension Code [40 ILCS 5/1A-109] need to file their annual statement pursuant to this Part in order to comply with Sections 1A-109 and 1A-113 of the Illinois Pension Code [40 ILCS 5/1A-109 and 1A-113].

(Source:  Amended at 22 Ill. Reg. 15308, effective August 7, 1998)

Section 4405.30  Electronic Filing

All pension, annuity or retirement funds or systems within the scope of this Part shall file their annual statement electronically with the Pension Division of the Illinois Department of Insurance.  For purposes of this Part, electronic filing shall mean the transmittal of information over computer lines, with the use of a modem/facsimile, directly into the computer data base of the Department of Insurance.

Section 4405.40  Procedure

a)         Each fund shall be responsible for ensuring effective delivery of its annual report through the electronic filing system.

b)         The perimeters and the substance of the annual statement report shall be furnished to each pension annuity and retirement fund or system by the Department at least 60 days prior to the deadline date for submission.