Illinois General Assembly - Full Text of HR0725

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Full Text of HR0725 93rd General Assembly

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HR0725 93RD GENERAL ASSEMBLY

HR0725 LRB093 21288 HSS 47489 r

1 HOUSE RESOLUTION

2     WHEREAS, It is to the benefit of the State of Illinois to
3 prevent the expenditure of Illinois public pension funds with
4 out-of-state financial services providers when there are
5 Illinois financial services providers that provide the same
6 returns and risks on investments; and

7     WHEREAS, It will benefit the economy of the State of
8 Illinois to increase the earnings of qualified Illinois
9 financial service providers and simultaneously satisfy all
10 fiduciary responsibilities of the pension systems; therefore,
11 be it

12     RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
13 NINETY-THIRD GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
14 whenever possible without violation of fiduciary
15 responsibilities, all Illinois pension systems should use the
16 Chicago Stock Exchange rather than using a stock exchange based
17 outside of the State of Illinois; and be it further

18     RESOLVED, That a copy of this resolution be sent to each of
19 the pension systems created under the Illinois Pension Code and
20 to the Illinois State Board of Investment.

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