Illinois Compiled Statutes 40 ILCS 5 Illinois Pension Code. Section 1A-109

    (40 ILCS 5/1A-109)

    Sec. 1A-109. Annual statements by pension funds. Each pension fund shall furnish to the Division an annual statement in a format prepared by the Division. The Division shall design the form and prescribe the content of the annual statement and, at least 60 days prior to the filing date, shall furnish the form to each pension fund for completion. The annual statement shall be prepared by each fund, properly certified by its officers, and submitted to the Division within 6 months following the close of the fiscal year of the pension fund.

    The annual statement shall include, but need not be limited to, the following:

        (1) a financial balance sheet as of the close of the

    fiscal year;

        (2) a statement of income and expenditures;

        (3) an actuarial balance sheet;

        (4) statistical data reflecting age, service, and

    salary characteristics concerning all participants;

        (5) special facts concerning disability or other

    claims;

        (6) details on investment transactions that occurred

    during the fiscal year covered by the report;

        (7) details on administrative expenses; and

        (8) such other supporting data and schedules as in

    the judgement of the Division may be necessary for a proper appraisal of the financial condition of the pension fund and the results of its operations. The annual statement shall also specify the actuarial and interest tables used in the operation of the pension fund.

    A pension fund that fails to file its annual statement within the time prescribed under this Section is subject to the penalty provisions of Section 1A-113.

(Source: P.A. 90-507, eff. 8-22-97.)

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Last modified: February 18, 2015