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90_SB1448
40 ILCS 5/1A-106
Amends the Illinois Pension Code. Limits the advisory
duties of the Public Pension Division of the Department of
Insurance to matters relating to Department rules and audit
findings. Effective immediately.
LRB9010114EGfg
LRB9010114EGfg
1 AN ACT to amend the Illinois Pension Code by changing
2 Section 1A-106.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 changing Section 1A-106 as follows:
7 (40 ILCS 5/1A-106)
8 Sec. 1A-106. Advisory services. The Division shall
9 render advisory services to the pension funds on all matters
10 pertaining to Department of Insurance rules and audit
11 findings their operations and shall recommend any corrective
12 or clarifying legislation that it may deem necessary. These
13 recommendations shall be made in the report of examination of
14 the particular pension fund and in the biennial report to the
15 General Assembly under Section 1A-108. The recommendations
16 may embrace all substantive legislative and administrative
17 policies, including, but not limited to, matters dealing with
18 the payment of annuities and benefits, the investment of
19 funds, and the condition of the books, records, and accounts
20 of the pension fund.
21 (Source: P.A. 90-507, eff. 8-22-97.)
22 Section 99. Effective date. This Act takes effect upon
23 becoming law.