Illinois Administrative Code
Title 50 - INSURANCE
Part 4415 - PAYMENT OF ANNUAL COMPLIANCE FEES FOR PENSION FUNDS
Section 4415.70 - Payment Method
Current through Register Vol. 48, No. 12, March 22, 2024
a) Payment of the annual compliance fee may be made by any of the following methods:
b) Pension funds seeking approval to make payment utilizing the ACH must first obtain the written approval of the Division of Insurance. Upon receipt of approval and at least 30 days prior to the payment due date, the Pension fund shall file with the Public Pension Division, as set forth in Section 4415.60 of this Part, the appropriate information of either:
c) Filings made pursuant to subsection (b) of this Section shall be addressed to the Department of Financial and Professional Regulation, Administrative Services Section, Tax and Fiscal Services Unit, 320 West Washington, Springfield, Illinois 62767-0001.
d) Pension funds electing to make payment utilizing the ACH are not required to file the payment information required by subsection (b) of this Section if the payment information has been previously submitted and has not changed since the previous submittal.
e) Based on the payment information provided by the pension funds under subsection (b) of this Section, the Public Pension Division will initiate an ACH Debit transfer or account transfer on the payment due date, or the first business day thereafter, in an amount equal to the annual compliance fee as calculated pursuant to Section 4415.40 of this Part and as stated in the notification sent pursuant to Section 4415.50 of this Part.