Bill > HB4773

This bill makes a technical change to the Illinois Pension Code's Section 1-110, which concerns prohibited transactions. The bill clarifies the language around fiduciaries causing retirement systems or pension funds to engage in transactions that could be considered indirect sales, loans, or transfers of assets to parties with interests adverse to the retirement system or its participants. The bill also establishes that fiduciaries and certain other officials cannot knowingly cause or advise the pension fund to engage in investment transactions with investment advisers in which they have a direct financial interest or business relationship.