PEN CD-IL FIDUCIARY COLLEGE

Amends the Illinois Pension Code. Requires the University of Illinois to create and maintain a fiduciary college for the purpose of educating pension fund, retirement system, and investment board members and staffs on ethics, fiduciary duty, investment issues, and any other curriculum. Requires all board members of any fund created under the Code, except those created under the Downstate Police and Downstate Fire Articles, to attend training of at least 8 hours per year at the Illinois Fiduciary College. Provides that downstate police and fire pension funds may opt to participate in these classes, and in doing so, board members shall fulfill any requirements for training otherwise required by the Code. Effective immediately.