Illinois House passes Batinick bill banning conflicts of interest on pension board

The Illinois House of Representatives passed legislation last week that would ban conflicts of interest on pension boards, according to a news release.

State Rep. Mark Batinick, who sponsored House Bill 3004, praised the passage of his legislation, which he said would delay the “revolving door” for pension board members.

The bill would prohibit members of pension boards, investment boards and retirement funds from being employed by the same board or fund, or vendor of that board or fund, for a period of 12 months after ceasing to be a board member.

“This bill will address a clear conflict of interest and put a stop to revolving doors for pension board members’ future employment when they step down from their board member roles,” Batinick, R-Plainfield, said in the release. “I’m pleased to see it pass with bipartisan support and zero opposition in the House.”