Sec. 1-111. Ten Per Cent Limitation of Employer Securities.
71 words·~1 min read·
/il/chapter-40/act-5/1-111A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 1-111. Ten Per Cent Limitation of Employer Securities. A plan may not acquire a security issued by an employer of employees covered by the retirement system or pension fund, if immediately after such acquisition, the aggregate fair market value of such employer securities held by the retirement system or pension fund exceed 10 per cent of the fair market value of the assets of the retirement system or pension fund.