IL HR0101

Directs the Illinois Auditor General to conduct an audit of five state pension and retirement systems: General Assembly Retirement System, State Employees' Retirement System, State Universities Retirement System, Teachers' Retirement System, and Judges Retirement System.

Audit shall determine anticipated savings from 2010 pension reforms and identify any false or materially misleading public statements made by system employees or officers regarding those savings.

Initiated in response to Securities and Exchange Commission non-public inquiry regarding $3.7 billion in pension obligation bonds and potential misstatements about pension reform savings.

Requires all audited pension systems to fully cooperate and provide materials requested by the Auditor General.

Directs Auditor General to complete audit and distribute report in accordance with Section 3-14 of the Illinois State Auditing Act.