IL SB2820

Amends the Illinois Pension Code to expand the board's powers to include new sections 6-183.1 and 6-191.1, extending authority through section 6-191.1 instead of 6-191.

Authorizes the board to lend securities owned by the Fund to borrowers under mutually agreed written terms, with the Fund retaining rights to all dividends, interest, and distributions.

Requires borrowers to deposit cash collateral equal to the market value of loaned securities at the time of loan, with provisions to increase collateral if security values rise.

Limits securities loans to a maximum period of one year, with provisions allowing either party to terminate earlier under mutually agreed conditions.

Permits the board to photograph, microfilm, or digitally reproduce records in accordance with the Local Records Act, with reproductions deemed original documents for all legal and evidentiary purposes.