Illinois General Assembly - Full Text of HR0233

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Full Text of HR0233 95th General Assembly

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HR0233 95TH GENERAL ASSEMBLY

HR0233 LRB095 07884 AMC 28045 r

1 HOUSE RESOLUTION

2     WHEREAS, It is to the benefit of the State of Illinois to
3 prevent the expenditure of Illinois public pension funds with
4 out-of-state financial services providers when there are
5 Illinois financial services providers that provide the same
6 returns and risks on investments; and

7     WHEREAS, It will benefit the economy of the State of
8 Illinois to increase the earnings of qualified Illinois
9 financial service providers and simultaneously satisfy all
10 fiduciary responsibilities of the pension systems; therefore,
11 be it

12     RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
13 NINETY-FIFTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we
14 encourage all Illinois public pension systems to use, whenever
15 possible without violating fiduciary responsibilities, the
16 Chicago Stock Exchange rather than using a stock exchange based
17 outside of the State of Illinois; and be it further

18     RESOLVED, That a copy of this resolution be sent to each of
19 the pension systems created under the Illinois Pension Code and
20 to the Illinois State Board of Investment.

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