Bill Status of HB5866 102nd General Assembly
Short Description: PEN CD-PUBLIC PENSION DIVISION
Rep. Thomas M. Bennett
| 1/8/2019||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Regulation of Public Pension Funds Article of the Illinois Pension Code. Requires the Public Pension Division of the Department of Insurance to make resources available to assist each municipality: (1) under the Downstate Police Article with the establishment of a police pension fund under that Article; and (2) under the Downstate Firefighter Article with the establishment of a firefighters' pension fund under that Article. Provides that the resources shall include, but not be limited to, the support of the Division's legal and professional staff. Provides that the Division must make these resources available to municipalities by January 1, 2020. Effective immediately.