PEN CD-INVESTMENT LIMITATION

Amends the Illinois Pension Code. Provides that a retirement system or pension fund established under the Downstate Police or Downstate Firefighters Article may not acquire a security issued by an employer of employees covered by any retirement system or pension fund under those Articles, including itself, if immediately after such acquisition, the aggregate fair market value of all such employer securities held by the retirement system or pension fund exceeds 10% of the fair market value of the assets of the retirement system or pension fund. Effective immediately.