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Legal Update

Sweeping Illinois Pension Reform Legislation Affects Retirement Systems and Pension Funds and their Advisers, Managers and Consultants

28 April 2009
Mayer Brown Legal Update
Sweeping pension system reforms have been adopted in Illinois this month that will have a significant effect on all Illinois state and local retirement systems and pension funds (each, an “Illinois Public Retirement System”), their investment advisers, managers and consultants, and the private investment funds in which these entities invest. Public Act 096-0006 (the “Act”) became effective on April 3, 2009 (the “Effective Date”).
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