Bill Title: Amends the Illinois State Auditing Act. Requires the State Actuary to conduct a full-scope audit of each of the 5 State-funded retirement systems at least once every 5 years. The audit must fully replicate the actuarial valuation used to report the financial condition of the system and shall include an examination of methods and assumptions used for the actuarial valuation for reasonableness and internal consistency. Effective immediately.

Sponsorship: Partisan Bill (Democrat 2)

Status: (Introduced - Dead) 2015-05-06 - Added Chief Co-Sponsor Rep. Carol Sente [HB3178 Detail]

Text: Latest bill text (Introduced) [HTML]

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