Section 4415.40  Annual Compliance Fee Amount

Every pension fund that is required to file an annual statement under Section 1A-109 of the Code shall pay an annual compliance fee pursuant to the following schedule:

a)         In the case of a pension fund under Article 3 or 4 of the Code, the annual compliance fee is 0.02% (2 basis points) of the total assets of the pension fund, as reported in the most current annual statement of the fund, but no more than $8,000; or

b)         In the case of all other pension funds and retirement systems, the annual compliance fee shall be $8,000. [40 ILCS 5/1A-112(a)]

(Source:  Amended at 30 Ill. Reg. 13176, effective July 24, 2006)