Illinois § 2-8.1
Full text of Illinois Illinois Compiled Statutes § 2-8.1, with citation guidance and answers to common questions.
§ 2-8.1.
Actuarial Responsibilities. (a) The Auditor General shall contract with or hire an actuary to serve as the State Actuary. The State Actuary shall be retained by, serve at the pleasure of, and be under the supervision of the Auditor General and shall be paid from appropriations to the office of the Auditor General. The State Actuary may be selected by the Auditor General without engaging in a competitive procurement process. (b) The State Actuary shall: (1) review assumptions and valuations prepared by actuaries retained by the boards of trustees of the State-funded retirement systems; (2) issue preliminary reports to the boards of trustees of the State-funded retirement systems concerning proposed certifications of required State contributions submitted to the State Actuary by those boards; (3) cooperate with the boards of trustees of the State-funded retirement systems to identify recommended changes in actuarial assumptions that the boards must consider before finalizing their certifications of the required State contributions; (4) conduct reviews of the actuarial practices of the boards of trustees of the State-funded retirement systems; (5) make additional reports as directed by joint resolution of the General Assembly; and (6) perform any other duties assigned by the Auditor General, including, but not limited to, reviews of the actuarial practices of other entities. (c) On or before January 1, 2013 and each January 1 thereafter, the Auditor General shall submit a written report to the General Assembly and Governor documenting the initial assumptions and valuations prepared by actuaries retained by the boards of trustees of the State-funded retirement systems, any changes recommended by the State Actuary in the actuarial assumptions, and the responses of each board to the State Actuary's recommendations. (d) For the purposes of this Section, "State-funded retirement system" means a retirement system established pursuant to Article 2, 14, 15, 16, or 18 of the Illinois Pension Code. (Source: P.A. 97-694, eff. 6-18-12.)
Frequently Asked Questions About Illinois § 2-8.1
What does Illinois Compiled Statutes § 2-8.1 cover?
Section 2-8.1 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 2-8.1?
A common citation format is "Illinois Compiled Statutes § 2-8.1" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 2-8.1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.