IL SB3639

Requires retirement systems and pension funds to broadcast all open board and committee meetings to the public in real-time on their websites using high-speed Internet connection, with both audio and video available.

Exempts pension funds established under the Downstate Police Article (Article 3) and Downstate Firefighter Article (Article 4) from the broadcast and maintenance requirements.

Requires majority of committee members to be board members, and any non-board committee members must be designated as fiduciaries.

Mandates retirement systems and pension funds maintain websites with quarterly updates on investment information including total funds, asset allocation, returns, investment advisers, performance benchmarks, consultants, contractors, board member names and email addresses, and contract descriptions.

Exempts implementation from State reimbursement requirements under the State Mandates Act; effective December 31, 2020.