PEN CD-BD OF INVESTMENT AUDIT

Summary

The bill amends the Illinois Pension Code so the State Board of Investment will not be considered in violation of its six‑month‑after‑fiscal‑year reporting deadline when it fails to receive the required audit opinion by December 15. It affects the board, the pension, retirement and education funds it serves, and clarifies compliance expectations. The change matters because it prevents automatic penalties when audit timing issues arise.

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