Sec. 35. Risk management.
167 words·~1 min read·
/il/chapter-820/act-80/35A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 35. Risk management. The Board shall prepare and adopt a written statement of investment policy that includes a risk management and oversight program. This investment policy shall prohibit the Board, Program, and Fund from borrowing for investment purposes. The risk management and oversight program shall be designed to ensure that an effective risk management system is in place to monitor the risk levels of the Program and Fund portfolio, to ensure that the risks taken are prudent and properly managed, to provide an integrated process for overall risk management, and to assess investment returns as well as risk to determine if the risks taken are adequately compensated compared to applicable performance benchmarks and standards.
The Board shall adopt the statement of investment policy and any changes in the investment policy at a public meeting of the Board. The investment policy and any changes to the investment policy shall be published on the Board's or Treasurer's website at least 30 days prior to implementation of such policy.