Bill Title: Amends the Downstate Police, Downstate Firefighters, and Illinois Municipal Retirement Fund (IMRF) Articles of the Illinois Pension Code. Requires the board of each downstate police and downstate firefighter fund to transfer to the board of trustees of the Illinois Municipal Retirement Fund, for management and administration, all investments owned by those funds. Terminates, upon completion of the transfer, the authority of the boards of each downstate police and downstate firefighter fund to make investments. Charges the board of trustees of the Illinois Municipal Retirement Fund with controlling and managing the investment expenditures and income, including interest dividends, capital gains, and other distributions on the investments of the downstate police and downstate firefighter funds. Provides for the election of a police officer trustee and a firefighter trustee to the board of trustees of the Illinois Municipal Retirement Fund.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-01-08 - Session Sine Die [SB1679 Detail]

Text: Latest bill text (Introduced) [HTML]

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