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IL HB5059
Bill
Status
Introduced
1/25/2010
Primary Sponsor
Kevin Joyce
Click for details
AI Summary
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Prohibits Illinois retirement systems and pension funds from investing in any funds that trade derivatives in off-market or non-open markets.
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Requires retirement systems or pension funds already invested in such derivative funds on the effective date to divest their interests within one year.
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Amends the State Mandates Act to exempt this requirement from state reimbursement obligations.
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Takes effect immediately upon becoming law.
Legislative Description
PEN CD-INVESTMT-DERIVATIVES
Last Action
Rule 19(a) / Re-referred to Rules Committee
3/15/2010
Committee Referrals
Rules3/15/2010
Personnel & Pensions2/23/2010
Rules1/25/2010
Full Bill Text
No bill text available