IL HB0379

Amends Section 17-147 of the Illinois Pension Code regarding custody and management of pension funds by the city treasurer.

Changes language from masculine pronouns ("he," "his") to gender-neutral terminology ("the city treasurer," "the city treasurer's").

Modifies payment authorization procedures to allow payments through checks or direct deposit transmittals authorized by the executive director, replacing previous warrant signature requirements.

Clarifies that the city treasurer serves as ex officio custodian of the fund and must maintain books and accounts subject to Board inspection.

Specifies that any interest accruing on fund monies belongs to the fund and cannot be retained by the treasurer or other custodial officers.