DEERING-BOST-SAVIANO. 30 ILCS 105/8f new 30 ILCS 235/1 from Ch. 85, par. 901 40 ILCS 5/1-101.1 from Ch. 108 1/2, par. 1-101.1 40 ILCS 5/1-101.2 new 40 ILCS 5/1-101.3 new 40 ILCS 5/1-101.4 new 40 ILCS 5/1-113 from Ch. 108 1/2, par. 1-113 40 ILCS 5/1-113.1 new 40 ILCS 5/1-113.2 new 40 ILCS 5/1-113.3 new 40 ILCS 5/1-113.4 new 40 ILCS 5/1-113.5 new 40 ILCS 5/1-113.6 new 40 ILCS 5/1-113.7 new 40 ILCS 5/1-113.8 new 40 ILCS 5/1-113.9 new 40 ILCS 5/1-113.10 new 40 ILCS 5/1-113.11 new 40 ILCS 5/Art. 1A heading new 40 ILCS 5/1A-101 new 40 ILCS 5/1A-102 new 40 ILCS 5/1A-103 new 40 ILCS 5/1A-104 new 40 ILCS 5/1A-105 new 40 ILCS 5/1A-106 new 40 ILCS 5/1A-107 new 40 ILCS 5/1A-108 new 40 ILCS 5/1A-109 new 40 ILCS 5/1A-110 new 40 ILCS 5/1A-111 new 40 ILCS 5/1A-112 new 40 ILCS 5/1A-113 new 40 ILCS 5/3-102 from Ch. 108 1/2, par. 3-102 40 ILCS 5/3-108.2 new 40 ILCS 5/3-108.3 new 40 ILCS 5/3-132 from Ch. 108 1/2, par. 3-132 40 ILCS 5/3-135 from Ch. 108 1/2, par. 3-135 40 ILCS 5/3-143 from Ch. 108 1/2, par. 3-143 40 ILCS 5/4-105c new 40 ILCS 5/4-105d new 40 ILCS 5/4-123 from Ch. 108 1/2, par. 4-123 40 ILCS 5/4-128 from Ch. 108 1/2, par. 4-128 40 ILCS 5/4-134 from Ch. 108 1/2, par. 4-134 40 ILCS 5/Art. rep. 815 ILCS 5/8 from Ch. 121 1/2, par. 137.8 Amends the Illinois Pension Code. Adopts provisions relating to fiduciaries and investment advisers. Expands the investment authority of downstate police and fire pension funds. Creates a new Article 1A relating to the powers of the Public Pension Division of the Department of Insurance, substantially incorporating the provisions of current Article 22, Division 5 (with numerous substantive and technical changes); repeals Article 22, Division 5 of the Code. Amends the State Finance Act to create the Public Pension Regulation Fund. Amends the Public Funds Investment Act to exclude downstate police and fire pension funds. Amends the Illinois Securities Law of 1953 to specify that dealers, salespersons, and investment advisers may be disciplined for causing or advising a public pension fund to make an investment or engage in a transaction not authorized under the Illinois Pension Code. Effective immediately. PENSION NOTE Annual investment return would increase by 0.75% resulting in approximately $479.7 M in additional investment income over the next 10 years. (Assuming a 35% investment in equities by all funds beginning 1/1/96.) PENSION NOTE, REVISED Increased investment return would generate approximately $17.4 million in 1998. 97-02-05 H FIRST READING 97-02-05 H ADDED AS A JOINT SPONSOR BOST 97-02-05 H ADDED AS A CO-SPONSOR SAVIANO 97-02-05 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-02-10 H ASSIGNED TO COMMITTEE PERS PENSION 97-03-03 H PENSION NOTE FILED 97-03-03 H COMMITTEE PERS PENSION 97-03-21 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 97-03-28 H PENSION NOTE FILED REVISED 97-03-28 H COMMITTEE RULES 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary