reglab/housing_qa huggingface dataset:
40 ILCS 5/1-145
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1 - General Provisions: Short Title, Effect Of Code And Other Provisions

Sec. 1-145. Contingent and placement fees prohibited. No person or entity shall retain a person or entity to attempt to influence the outcome of an investment decision of or the procurement of investment advice or services of a retirement system, pension fund, or investment board of this Code for compensation, contingent in whole or in part upon the decision or procurement. Any person who violates this Section is guilty of a business offense and shall be fined not more than $10,000. In addition, any person convicted of a violation of this Section is prohibited for a period of 3 years from conducting such activities.  (Source: P.A. 96-6, eff. 4-3-09.)
40 ILCS 5/1-150
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1 - General Provisions: Short Title, Effect Of Code And Other Provisions

Sec. 1-150. Approval of travel or educational mission. The expenses for travel or educational missions of a board member of a retirement system, pension fund, or investment board created under this Code, except those whose investments are restricted by Section 1-113.2 of this Code, must be approved by a majority of the board prior to the travel or educational mission.  (Source: P.A. 96-6, eff. 4-3-09.)
40 ILCS 5/1-165
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1 - General Provisions: Short Title, Effect Of Code And Other Provisions

Sec. 1-165. Commission on Government Forecasting and Accountability study. The Commission on Government Forecasting and Accountability shall conduct a  study on the feasibility of:(1) the creation of an investment pool to supplement     and enhance the investment opportunities available to boards of trustees of the pension funds organized under Articles 3 and 4 of this Code; the study shall include an analysis on any cost or cost savings associated with establishing the system and transferring assets for management under the investment pool; and(2) enacting a contribution cost-share component     wherein employing municipalities and members of funds established under Articles 3 and 4 of this Code each contribute 50% of the normal cost of the defined-benefit plan.The Commission shall issue a report on its findings on or before December 31, 2011.   (Source: P.A. 96-1495, eff. 1-1-11.)
40 ILCS 5/1-166
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1 - General Provisions: Short Title, Effect Of Code And Other Provisions

Sec. 1-166. Proportional annuity liability.(a) If a participant's final average salary in a participating system under the Retirement Systems Reciprocal  Act, other than the General Assembly Retirement System, is  used to calculate a proportional retirement annuity for that participant under the General Assembly Retirement System, if that final average salary is  higher than the highest salary for annuity purposes  of that person under the General Assembly Retirement System, and if the participant retires after the effective date of this Section with less than 2 years of service that has accrued in that participating system since his or her last day of active participation in the General Assembly Retirement System, then the increased cost of the proportional annuity paid by the  General Assembly Retirement System that is attributable to that higher level of compensation shall be paid by  the employer of the participant under that other participating system to the General Assembly Retirement System in the form of a lump sum  payment determined by the General Assembly Retirement System in accordance with its annuity tables and other actuarial assumptions.(b) For the purposes of this Section, "final average salary in a participating system under the Retirement Systems Reciprocal  Act, other than the General Assembly Retirement System," includes:(1) In Section 1-160 and Articles 16 and 18, "final     average salary".(2) In Articles 7 and 15, "final rate of earnings".(3) In Articles 8, 9, 10, 11, and 12, "highest      average annual salary for any 4 consecutive years within the last 10 years of service immediately preceding the date of withdrawal".(4) In Article 13, "average final salary".(5) In Article 14, "final average compensation".(6) In Article 17, "average salary".(7) In Section 22-207, "wages or salary received by      him at the date of retirement or discharge".(c) If an employer fails to pay the amount required under this Section to the General Assembly Retirement System for more than  90 days after the payment is due, the System, after  giving notice to the employer, may certify to  the State Comptroller the amount of the delinquent payment and the  Comptroller shall deduct the amount so certified or any part thereof  from any payment  of State funds to the employer and shall pay the amount so deducted to the System.  If State  funds from which such deductions may be made are not available, then the System  may proceed against the employer to recover the  amount of the delinquent payment in the appropriate circuit court.   (Source: P.A. 97-967, eff. 8-16-12.)
40 ILCS 5/1-167
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1 - General Provisions: Short Title, Effect Of Code And Other Provisions

(40 ILCS 5/1-167)Sec. 1-167. Prohibited disclosures. No pension fund or retirement system subject to this Code shall disclose the following information of any members or participants of any pension fund or retirement system: (1) the individual's  home address (including ZIP code and county); (2) the individual's date of birth; (3) the individual's home and personal phone number; (4) the individual's personal email address; (5) personally identifying member or participant deduction information; or (6) any membership status in a labor organization or other voluntary association affiliated with a labor organization or labor federation (including whether participants are members of such organization, the identity of such organization, whether or not participants pay or authorize the payment of any dues or moneys to such organization, and the amounts of such dues or moneys).This Section does not apply to disclosures (i) required under the Freedom of Information Act, (ii) for purposes of conducting public operations or business, or (iii) to a labor organization or other voluntary association affiliated with a labor organization or labor federation.   (Source: P.A. 101-620, eff. 12-20-19.)
40 ILCS 5/Art. 1A heading
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1A - Regulation Of Public Pension Funds

 ARTICLE 1A.      REGULATION OF PUBLIC PENSION FUNDS
40 ILCS 5/1A-101
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1A - Regulation Of Public Pension Funds

Sec. 1A-101.     Creation of Public Pension Division.     There is created in the  Department of Insurance a Public Pension Division which, under the supervision  and direction of the Director of Insurance, shall exercise the powers and  perform the duties and functions prescribed under this Code.  The Division  shall consist of an administrator,  a supervisor, a technical staff trained in  the fundamentals of public pension fund planning, operations, administration,  and investment of public pension funds, and such other personnel as may be  necessary properly and effectively to discharge the functions of the  Division.    (Source: P.A. 90-507, eff. 8-22-97.)
40 ILCS 5/1A-103
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1A - Regulation Of Public Pension Funds

Sec. 1A-103.     Rules.     The Department is authorized to promulgate rules  necessary for the administration and enforcement of this Code.  Except as  otherwise provided under this Code, these rules shall apply only to pension  funds established under Article 3 or Article 4 of this Code.  Rules adopted  pursuant to this Section shall govern where conflict with local rules and  regulations exists.    (Source: P.A. 90-507, eff. 8-22-97.)
40 ILCS 5/1A-105
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1A - Regulation Of Public Pension Funds

Sec. 1A-105.     Examination and subpoena of records and witnesses.     The  Director may administer oaths and affirmations and summon and compel the  attendance before him or her and examine under oath any officer, trustee,  agent, actuary, attorney, or employee connected either directly or indirectly  with any pension fund, or any other person having information regarding the  condition, affairs, management, administration, or methods of conducting a  pension fund.  The Director may require any person having possession of any  record, book, paper, contract, or other document pertaining to a pension fund  to surrender it or to otherwise afford the Director access to it and for  failure so to do the Director may attach the same.Should any person fail to obey the summons of the Director or refuse to  surrender to him or her or afford him or her access to any such record, book,  paper, contract, or other document, the Director may apply to the circuit court  of the county in which the principal office of the pension fund involved is  located, and the court, if it finds that the Director has not exceeded his or  her authority in the matter, may, by order duly entered, require the attendance  of witnesses and the production of all relevant documents required by the  Director in carrying out his or her responsibilities under this Code.  Upon  refusal or neglect to obey the order of the court, the court may compel  obedience by proceedings for contempt of court.    (Source: P.A. 90-507, eff. 8-22-97.)
40 ILCS 5/1A-106
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1A - Regulation Of Public Pension Funds

Sec. 1A-106.     Advisory services.     The Division shall render advisory  services to the pension funds on all matters pertaining to their operations  and shall recommend any corrective or clarifying legislation that it may deem  necessary.  These recommendations shall be made in the report of examination of  the particular pension fund and in the biennial report to the General Assembly  under Section 1A-108.  The recommendations may embrace all substantive  legislative and administrative policies, including, but not limited to, matters  dealing with the payment of annuities and benefits, the investment of funds,  and the condition of the books, records, and accounts of the pension fund.    (Source: P.A. 90-507, eff. 8-22-97.)
40 ILCS 5/1A-107
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1A - Regulation Of Public Pension Funds

Sec. 1A-107.     Automation of services.     The Division shall automate its  operations, services, and communications to the fullest practical extent.  This  automation shall include, but need not be limited to, the acquisition, use, and  maintenance of electronic data processing technology to (i) automate Division  operations as necessary to carry out its duties and responsibilities under this  Code, (ii) provide by FY 2000 electronic exchange of information between the  Division and pension funds subject to this Code, (iii) provide to pension funds  and the general public and receive from pension funds and the general public  data on computer processible media, and (iv) control access to information when  necessary to protect the confidentiality of persons identified in the  information.The Division shall ensure that this automation is designed so as to  protect any confidential data it may receive from a pension fund.  This Section  does not authorize the Division or the Department of Insurance to disclose any  information identifying specific pension fund participants or relating to an  identifiable pension fund participant.    (Source: P.A. 90-507, eff. 8-22-97.)
40 ILCS 5/1A-108
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1A - Regulation Of Public Pension Funds

Sec. 1A-108. Report to the Governor and General Assembly. On or before  October 1 following the convening of a regular session of the General Assembly,  the Division shall submit a report to the Governor and General Assembly setting  forth the latest financial statements on the pension funds operating in the  State of Illinois, a summary of the current provisions underlying these funds,  and a report on any changes that have occurred in these provisions since the  date of the last such report submitted by the Division.The report shall also include the results of examinations made by the  Division of any pension fund and any specific recommendations for legislative  and administrative correction that the Division deems necessary.  The report  may embody general recommendations concerning desirable changes in any existing  pension, annuity, or retirement laws designed to standardize and establish  uniformity in their basic provisions and to bring about an improvement in the  financial condition of the pension funds.  The purposes of these  recommendations and the objectives sought shall be clearly expressed in the  report.The requirement for reporting to the General Assembly shall be satisfied by  filing copies of the report as required by  Section 3.1 of the General Assembly Organization Act, and filing additional  copies with the State Government Report Distribution Center for the General  Assembly as required under paragraph (t) of Section 7 of the State Library  Act.Upon request, the Division shall distribute additional copies of the report  at no charge to the secretary of each pension fund established under Article 3  or 4, the treasurer or fiscal officer of each municipality with an established  police or firefighter pension fund, the executive director of every other  pension fund established under this Code, and to public libraries, State  agencies, and police, firefighter, and municipal organizations active in the  public pension area.  (Source: P.A. 100-1148, eff. 12-10-18.)
40 ILCS 5/1A-108.5
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1A - Regulation Of Public Pension Funds

Sec. 1A-108.5. Economic opportunity investments.(a) For the purposes of this Section:"Economic opportunity investment" means a qualified investment, managed passively or actively by the pension fund, that promotes economic development within the State of Illinois by providing financially prudent investment opportunities in or through the use of (a) Illinois businesses or (b) Illinois-based projects that promote the economy of the State or a region of the State, including without limitation promotion of venture capital programs, coal and other natural resource development, tourism development, infrastructure development, real estate development, and job development within the State of Illinois, while producing a competitive rate of return commensurate with the risk of investment."Illinois business" means a business, including an investment adviser, that is headquartered in Illinois."Illinois-based project" means an individual project of a business, including the provision of products and investment and other services to the pension fund, that will result in the conduct of business within the State, the employment of individuals within the State, or the acquisition of real property located within the State.(b) It is the public policy of the State of Illinois to encourage the pension funds, and any State entity investing funds on behalf of pension funds, to promote the economy of Illinois through the use of economic opportunity investments to the greatest extent feasible within the bounds of financial and fiduciary prudence.(c) Each pension fund, except pension funds created under Articles 3 and 4 of this Code, shall submit a report to the Governor and the General Assembly by September 1 of each year, beginning in 2009, that identifies the economic opportunity investments made by the fund, the primary location of the business or project, the percentage of the fund's assets in economic opportunity investments, and the actions that the fund has undertaken to increase the use of economic opportunity investments.(d) Pension funds created under Articles 2, 14, 15, 16, and 18 of this Act, and any State agency investing funds on behalf of those pension funds, must make reasonable efforts to invest in economic opportunity investments.(e) In making economic opportunity investments, trustees and fiduciaries must comply with the relevant requirements and restrictions set forth in Sections 1-109, 1-109.1, 1-109.2, 1-110, and 1-111 of this Code. Economic opportunity investments that otherwise comply with this Code shall not be deemed imprudent solely because they are investments in an Illinois business or Illinois-based project.    (Source: P.A. 96-753, eff. 8-25-09.)
40 ILCS 5/1A-109
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1A - Regulation Of Public Pension Funds

Sec. 1A-109. Annual statements by pension funds. Each pension fund shall  furnish to the Division an annual statement in a format prepared by the  Division.The Division shall design the form and prescribe the content of the  annual statement and, at least 60 days prior to the filing date, shall furnish  the form to each pension fund for completion.  The annual statement shall be  prepared by each fund, properly certified by its officers, and submitted to the  Division within 6 months following the close of the fiscal year of the pension  fund.The annual statement shall include, but need not be limited to, the  following:(1) a financial balance sheet as of the close of the     fiscal year;(2) a statement of income and expenditures;(3) an actuarial balance sheet;(4) statistical data reflecting age, service, and     salary characteristics concerning all participants;(5) special facts concerning disability or other     claims;(6) details on investment transactions that occurred     during the fiscal year covered by the report;(7) details on administrative expenses; and(8) such other supporting data and schedules as in     the judgement of the Division may be necessary for a proper appraisal of the financial condition of the pension fund and the results of its operations.  The annual statement shall also specify the actuarial and interest tables used in the operation of the pension fund.For pension funds under Article 3 or 4 of this Code, after the conclusion of the transition period, the Consolidated Fund shall furnish directly to the Division the information described in items (1) and (6) of this Section and shall otherwise cooperate with the pension fund in the preparation of the annual statement.A pension fund that fails to file its annual statement within the time  prescribed under this Section is subject to the penalty provisions of Section  1A-113.  (Source: P.A. 101-610, eff. 1-1-20.)
40 ILCS 5/1A-111
2021 Illinois Compiled Statutes|Chapter 40 - PENSIONS|40 ILCS 5/ - Illinois Pension Code.|Article 1A - Regulation Of Public Pension Funds

Sec. 1A-111. Actuarial statements by pension funds established under  Article 3 or 4.(a) For each pension fund established under Article 3 or 4 of this Code, a complete actuarial statement applicable to its plan year shall be included   as part of its annual statement in accordance with the following:(1) Prior to the conclusion of the transition period,     if the actuarial statement is prepared by a person other than the Department, it shall be filed with the Division within 9 months after the close of the fiscal year of the pension fund.  Any pension fund that fails to file within that time shall be subject to the penalty provisions of Section 1A-113.  The statement shall be prepared by or under the supervision of a qualified actuary, signed by the qualified actuary, and contain such information as the Division may by rule require.(2) After the conclusion of the transition period,     each actuarial statement shall be prepared by or under the supervision of a qualified actuary retained by the Consolidated Fund and signed by the qualified actuary and shall contain such information as the Division may by rule require. The actuarial statement shall be filed with the Division within 9 months after the close of the fiscal year of the pension fund.(a-5) Prior to the conclusion of the transition period, the actuarial statements may be prepared utilizing the method for calculating the actuarially required contribution for the pension fund that was in effect prior to the effective date of this amendatory Act of the 101st General Assembly.After the conclusion of the transition period, the actuarial statements shall be prepared by or under the supervision of a qualified actuary retained by the Consolidated Fund, and if a change occurs in an actuarial or investment assumption that increases or decreases the actuarially required contribution for the pension fund, that change shall be implemented in equal annual amounts over the 3-year period beginning in the fiscal year of the pension fund in which such change first occurs.The actuarially required contribution as described in this subsection shall determine the annual required employer contribution.(b) For the purposes of this Section, "qualified actuary" means (i) a  member of the American Academy of Actuaries, or (ii) an individual who has  demonstrated to the satisfaction of the Director that he or she has the  educational background necessary for the practice of actuarial science and has  at least 7 years of actuarial experience.  (Source: P.A. 101-610, eff. 1-1-20.)