PEN CD-ART 3 & 4-INVESTMENT
Summary
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.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2011
Committee Review
Floor Vote
Governor
Introduced Feb 9, 2011
Last action Jan 8, 2013
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
0
Committee
3
Jan 8, 2013
Senate · Failed
Session Sine Die
Mar 18, 2011
Senate · Referred to committee
Rule 3-9(a) / Re-referred to Assignments
Mar 2, 2011
Senate · Referred to committee
Assigned to Pensions and Investments
Feb 9, 2011
Senate · Referred to committee
Referred to Assignments
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Jeffrey M. Schoenberg
DDemocratic
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