AUTHORITY: Implementing Section 1-113.7, and authorized by Sections 1-113.7 and 1-113.11, of the Illinois Pension Code [40 ILCS 5/1-113.7 and 1-113.11] (see P.A. 90-507, effective August 22, 1997).DEPARTMENT OF INSURANCE
If a pension fund fails to meet the requirements of this Part, such pension fund shall be subject to the penalty provisions set forth in 50 Ill. Adm. Code 4435.