IL HB4773

Amends Section 1-110 of the Illinois Pension Code concerning prohibited transactions by fiduciaries of retirement systems and pension funds.

Makes a technical correction by removing a duplicate instance of the word "the" in subsection (a) regarding prohibited transactions.

Maintains existing prohibitions on fiduciaries engaging in self-dealing transactions, conflicts of interest, and receiving improper personal benefits from pension fund assets.

Preserves exceptions allowing trustees to receive participant/beneficiary benefits, reimbursement for actual expenses, and to serve as trustees while being officers of interested parties.