Every pension fund, retirement system, and investment board created under this Code, except those whose investments are restricted by Section 1-113.2 of this Code, shall instruct the fund's, system's, or board's investment advisors to utilize investment strategies designed to ensure that all securities transactions are executed in such a manner that the total explicit and implicit costs and total proceeds in every transaction are the most favorable under the circumstances.
40 ILCS 5/1-113.20
Investment strategies; explicit and implicit costs
Known as the Illinois Pension Code
The act spans §§ 40-5-1-101 to 40-5-1-167 (79 sections).
P.A. 96-753, eff. 8-25-09.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.