Bill Title: 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.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Failed) 2021-01-13 - Session Sine Die [SB3747 Detail]

Text: Latest bill text (Introduced) [HTML]

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