IL SB3747 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on February 14 2020 - 25% progression
Action: 2020-03-18 - Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins
Pending: Senate Government Accountability and Pensions Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the General Provisions Article of the Illinois Pension Code. Provides that a trustee on the board of trustees of a pension fund, board of investment, or investment fund established under the Chicago Police, Chicago Firefighter, Illinois Municipal Retirement Fund (IMRF), Chicago Municipal, Cook County, Chicago Laborers, Chicago Park District, Metropolitan Water Reclamation District (MWRD), State Universities, Downstate Teachers, Chicago Teachers, Illinois State Board of Investment, Police Officers' Pension Investment Fund, or Firefighters' Pension Investment Fund Article shall, no later than 6 months after first becoming a trustee and at least once every 3 years thereafter, complete a minimum of 2 hours of continuing education regarding the requirements of and obligations under certain provisions of the Code concerning fiduciary duties, investment policies, and investment sustainability. Provides that a person who is a trustee on the effective date of the amendatory Act shall complete the training no later than 6 months after the effective date of the amendatory Act and at least once every 3 years thereafter. Effective immediately.

Tracking Information

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Title

PEN CD-TRUSTEE-CONTINUING ED

Sponsors


History

DateChamberAction
2020-03-18SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
2020-03-12SenateAssigned to Government Accountability and Pensions
2020-02-14SenateReferred to Assignments
2020-02-14SenateFirst Reading
2020-02-14SenateFiled with Secretary by Sen. Iris Y. Martinez

Code Citations

ChapterArticleSectionCitation TypeStatute Text
4051-109.4New CodeSee Bill Text

Illinois State Sources


Bill Comments

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