(40 ILCS 5/1-113.1)
Sec. 1-113.1.
Investment authority of pension funds established under
Article 3 or 4. The board of trustees of a police pension fund established
under Article 3 of this Code or firefighter pension fund established under
Article 4 of this Code shall draw pension funds from the treasurer of the
municipality and, beginning January 1, 1998, invest any part thereof in the
name of the board in the items listed in Sections 1-113.2 through 1-113.4
according to the limitations and requirements of this Article. These
investments shall be made with the care, skill, prudence, and diligence that a
prudent person acting in like capacity and familiar with such matters would use
in the conduct of an enterprise of like character with like aims.
Interest and any other income from the investments shall be credited to the
pension fund.
For the purposes of Sections 1-113.2 through 1-113.11, the "net assets" of a
pension fund include both the cash and invested assets of the pension fund.
(Source: P.A. 90-507, eff. 8-22-97.)
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