Illinois General Assembly

  Bills & Resolutions  
  Compiled Statutes  
  Public Acts  
  Legislative Reports  
  IL Constitution  
  Legislative Guide  
  Legislative Glossary  

 Search By Number
 (example: HB0001)
Search Tips

Search By Keyword

Illinois Compiled Statutes

 ILCS Listing   Public Acts  Search   Guide   Disclaimer

Information maintained by the Legislative Reference Bureau
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

40 ILCS 5/1-113.3

    (40 ILCS 5/1-113.3)
    Sec. 1-113.3. List of additional permitted investments for pension funds with net assets of $2,500,000 or more.
    (a) In addition to the items in Section 3-113.2, a pension fund established under Article 3 or 4 that has net assets of at least $2,500,000 may invest a portion of its net assets in the following items:
        (1) Separate accounts that are managed by life
    
insurance companies authorized to transact business in Illinois and are comprised of diversified portfolios consisting of common or preferred stocks, bonds, or money market instruments.
        (2) Mutual funds that meet the following requirements:
            (i) the mutual fund is managed by an investment
        
company as defined and registered under the federal Investment Company Act of 1940 and registered under the Illinois Securities Law of 1953;
            (ii) the mutual fund has been in operation for at
        
least 5 years;
            (iii) the mutual fund has total net assets of
        
$250 million or more; and
            (iv) the mutual fund is comprised of diversified
        
portfolios of common or preferred stocks, bonds, or money market instruments.
    (b) A pension fund's total investment in the items authorized under this Section shall not exceed 35% of the market value of the pension fund's net present assets stated in its most recent annual report on file with the Illinois Department of Insurance.
(Source: P.A. 90-507, eff. 8-22-97.)