Bill Title: Amends the General Provisions Article of the Illinois Pension Code. Requires the trustees of downstate police and firefighter pension funds to complete the 32-hour initial ethics training in 2 years (rather than 1 year) and the 16-hour continuing ethics training every 2 years thereafter (rather than every year thereafter). Requires 8 hours of the 32-hour initial ethics training to be completed in the first year and to include training in trustee ethics and fiduciary duties and liabilities. After completion of the initial ethics training, requires 4 hours of continuing training in trustee ethics and fiduciary duties and liabilities each year. Requires specified portions of the continuing ethics training to be done in a classroom or comparable online setting. Authorizes the balance of the continuing ethics training to be earned through participation in board hearings or training opportunities associated with other organizations or employment that are applicable to the duties of a pension fund trustee. Authorizes the training required of trustees of downstate police and firefighter pension funds to be applied toward the 8-hour continuing ethics training requirement that applies to all trustees of pension and retirement systems in the State.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB4742 Detail]

Text: Latest bill text (Introduced) [HTML]

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