IL SB3071

Removes requirement that the State Treasurer serve as official custodian of the Illinois State Board of Investment and allows the board to appoint a qualified private custodian by December 31, 2016.

Replaces all references to "State Treasurer" with "board's custodian" or "custodian" throughout the Illinois Pension Code sections governing the board's operations and asset management.

Until a private custodian is appointed, the State Treasurer continues to serve as official custodian of the board.

Removes language requiring the fidelity bond be filed with the State Treasurer for safekeeping in Section 22A-109.