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Sunday, October 13, 2019

Bill would restrict pensions for local companies hired to work on border wall

Business

By Glenn Minnis | Mar 8, 2019


Legislation that would amend clauses in the Illinois Pension Code has been referred to the state House Local Retirement System Subcommittee.

Introduced by state Rep. Will Guzzardi (D-Chicago), House Bill 280 would require the Illinois Investment Policy Board “to make its best efforts to identify all companies that contract to build a border wall and include those companies in the list of restricted companies for purposes of investment distributed to each retirement system and the Illinois State Board of Investment.”

After being filed by Guzzardi in January, the new bill was first referred to the House Rules Committee, and then a Feb. 14 hearing before the House’s Personnel & Pensions Committee in Springfield.


Rep. Will Guzzardi (D-Chicago)

Guzzardi also serves as the Chairperson of the Prescription Drug Affordability Committee, and sits on the Economic Opportunity & Equity, Judiciary – Criminal, and Mental Health Committees.

If passed, HB 280 is slated to take effect immediately.

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Illinois House of Representatives Illinois Investment Policy Board Illinois State Board of Investment

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