Bill > HB0967

This bill amends the Illinois Pension Code to make a technical change to the section concerning prohibited transactions. The key provision is that it clarifies the language around prohibited transactions, such as the sale or exchange of property, lending of money, and provision of services, between a retirement system or pension fund and a party with an interest in the fund. The bill also prohibits fiduciaries from engaging in investment transactions that would result in a pecuniary benefit to themselves or their spouses, with a violation being a Class 4 felony.