Section 4401.60  Audit and Examination Hearings

a)         Hearings requested pursuant to this Part are limited to the accuracy of the facts contained in the report of examination.

b)         All requests for a hearing shall be made in writing and delivered to the Pension Division of the Illinois Department of Insurance.  Such request shall be received within 30 days after the day that the pension fund or retirement system received the report of examination.  Such requests shall identify the specific findings that are in dispute.

c)         Once a timely request is received by the Division, the Division will issue a notice of hearing.  All hearings will be scheduled to be held no sooner than 20 days, but no later than 30 days, after receipt of the request, and will be held in the offices of the Department.

d)         All hearings will be conducted in accordance with Illinois Administrative Hearing Procedures as outlined in 50 Ill. Adm. Code 2402.

e)         The Director will issue a written order following the hearing.  If the Director's decision finds noncompliance, the procedures of 50 Ill. Adm. Code 4435, Noncompliance Notification and Penalties, will be followed.  If the Director's decision finds compliance, the audit and examination report will be rewritten in accordance with the Director's order.

(Source:  Amended at 22 Ill. Reg. 15312, effective August 7, 1998)