Senate Sponsors: FITZGERALD-CLAYBORNE-MAITLAND. Short description: PENCD-DNST POL & FIRE-INVSTMTS Synopsis of Bill as introduced: Amends the Illinois Pension Code to expand the investment authority of downstate police and fire pension funds. Adopts provisions relating to fiduciaries and investment advisers. Amends the Illinois Securities Law of 1953 to specify that dealers, salespersons, and investment advisers may be disciplined for causing or advising a public pension fund to make an investment or engage in a transaction not authorized under the Illinois Pension Code. Effective immediately. PENSION IMPACT NOTE There could be an increase in annual investment returns of 0.75%, approximately $479.7 million over 10 years. This esti- mate assumes all eligible pension funds will invest 35% of assets in equities (mutual funds or stocks). Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status