Illinois Administrative Code
Title 50 - INSURANCE
Part 4439 - DISSOLUTION AND REESTABLISHMENT OF INACTIVE POLICE PENSION FUNDS AND FIREFIGHTERS' PENSION FUNDS
Section 4439.50 - Requirements of Independent Auditor Certification
Current through Register Vol. 48, No. 12, March 22, 2024
a) Prior to the corporate authorities of a municipality dissolving the pension fund by resolution or ordinance, an independent auditor must certify to the authorities that the pension fund has no liabilities, no participants and no beneficiaries, and no deferred pensioners entitled to benefits currently or in the future. A copy of the independent auditor certification shall be submitted to the Pension Division within 30 days after completion of the certification. The municipality shall include with the submission to the Pension Division, if not already included in the independent auditor certification, a copy of the independent auditor's report, including, but not limited to, the information required in subsection (b).
b) The audit shall include, but not be limited to: