IL SB3211

Changes the transition period deadline for the Police Officers' Pension Investment Fund from 30 months after January 1, 2020 to no later than June 30, 2023.

Requires the board to audit investment assets of transferor pension funds through a certified public accountant and provide certified investment asset lists to each fund within 10 business days.

Prohibits transferor pension funds from purchasing or selling pension fund assets after their certified investment asset list is determined to maintain accuracy during the transition.

Authorizes the Illinois Finance Authority to loan the Fund up to $7,500,000 for transition implementation costs, with repayment at a variable interest rate tied to the Federal Funds Rate.

Requires a post-transition audit within 6 months documenting investments acquired, securities sold, gains/losses, and administrative expenses, to be published on the Fund's website and filed with the Department of Insurance.