il-v50i40-50-ill-adm-code-4415: 50 Ill. Adm. Code 4415 — Payment of Annual Compliance Fees for Pension Funds

1) Heading of the Part: Payment of Annual Compliance Fees for Pension Funds 2) Code Citation: 50 Ill. Adm. Code 4415 3) Section Number: Proposed Action: 4415.70 Amendment 4) Statutory Authority: Implementing Sections 1A-107 and 1A-112, and authorized by Section 1A-103 of the Illinois Pension Code [40 ILCS 5/1A-103, 1A-107 and 1A-112]. 5) A Complete Description of the Subjects and Issues Involved: This rulemaking is filed pursuant to Section 5-15 of the Illinois Administrative Procedure Act and is only changing the address of the Department's Springfield Office to reflect the fact that the office is moving on September 23, 2026. Section 5-15 of the Illinois Administrative Procedure Act requires agencies to include a statement of how the proposed rule made under this Section satisfies the criteria established by subsections (a) and (b). The Department's address is used by the public to obtain information from the Department and/or make submissions or requests of the Department. These members of the public may include insurance companies, persons licensed by the Department, and Illinois insurance consumers. The address provided in the rules should be accurate, otherwise such persons may go to or send correspondence to the wrong address. The decision to relocate the Springfield office was an internal management decision. The private rights of individuals are not affected by Department rules containing the accurate address, although having the incorrect address in rule will cause unnecessary confusion and delay for people seeking information from and/or making submissions to the Department in person or via mail. It is in the public interest to have the Department's office address published in the Illinois Administrative Code be correct. 6) Published studies or reports, and sources of underlying data, used to compose this rulemaking: Not required for Section 5-15 notices. 7) Will this proposed rulemaking replace an emergency rule currently in effect? Not required for Section 5-15 notices. 8) Does this rulemaking contain an automatic repeal date? Not required for Section 5-15 notices. 9) Does this proposed amendment contain incorporations by reference? Not required for Section 5-15 notices. 10) Are there any other proposed rulemakings pending on this Part? No 11) Statement of Statewide Policy Objectives: Not required for Section 5-15 notices. 12) Time, Place, and Manner in which interested persons may comment on this proposed rulemaking: Persons who wish to comment on this proposed rulemaking may submit written comments no later than 14 days after the publication of this Notice to: Kathryn Williams Department of Insurance th 115 S. LaSalle Street, 13 Floor Chicago IL 60603 (312) 814-8212 Kathryn.A.Williams@illinois.gov 13) Initial Regulatory Flexibility Analysis: Not required for Section 5-15 notices. A) Description of the type of small business, not for profit corporations or small municipalities subject to the proposed amendment: None B) Description of the proposed reporting, bookkeeping and other procedures required for compliance with the amendment: None C) Description of the types of professional skills necessary for compliance: None 14) Small Business Economic Impact Analysis: Not required for Section 5-15 notices. 15) Regulatory Agenda on which this rulemaking was summarized: Not required for Section 5-15 notices. 16) Any other information or justification for the proposed rule or amendment that the agency believes would be helpful to the public regarding the proposed rule or amendment. For example, a discussion or analysis of the benefits of the proposed rule or amendment is projected to have on the Illinois public, consumers, investors or other similar groups. Not required for Section 5-15 notices. The full text of the Proposed Amendment begins on the next page: DEPARTMENT OF INSURANCE NOTICE OF PROPOSED AMENDMENT TITLE 50: INSURANCE CHAPTER I: DEPARTMENT OF INSURANCE SUBCHAPTER aaa: PENSIONS PART 4415 PAYMENT OF ANNUAL COMPLIANCE FEES FOR PENSION FUNDS Section 4415.10 Purpose 4415.20 Applicability 4415.30 Definitions 4415.40 Annual Compliance Fee Amount 4415.50 Notification of Annual Compliance Fee Amount 4415.60 Annual Compliance Fee Payment Date 4415.70 Payment Method 4415.80 Hearing on Annual Compliance Fee Amount 4415.90 Penalties 4415.ILLUSTRATION A Designation for Fund Transfer for State Pension Fund for Payment of Annual Compliance Fee 4415.ILLUSTRATION B Designation for Automated Clearing House Payment of Annual Compliance Fees AUTHORITY: Implementing Sections 1A-107 and 1A-112, and authorized by Section 1A-103 of the Illinois Pension Code [40 ILCS 5/1A-103, 1A-107 and 1A-112]. SOURCE: Adopted at 22 Ill. Reg. 7987, effective April 27, 1998; amended at 26 Ill. Reg. 16529, effective October 28, 2002; transferred from the Department of Insurance to the Department of Financial and Professional Regulation pursuant to Executive Order 2004-6 on July 1, 2004; amended at 30 Ill. Reg. 13176, effective July 24, 2006; recodified from the Department of Financial and Professional Regulation to the Department of Insurance pursuant to Executive Order 2009-04 at 41 Ill. Reg. 4978; amended at 43 Ill. Reg. 413, effective December 21, 2018; amended at 50 Ill. Reg. ______, effective ____________. Section 4415.70 Payment Method a) Payment of the annual compliance fee may be made by any of the following methods: 1) By check or money order in U.S. funds, made payable to the Illinois State Treasurer and mailed to: Illinois Department of Insurance, Attn: Tax and Audit Unit 4800 Wabash Ave.320 West Washington St. Springfield, Illinois 6271162767-0001; 2) By State voucher, submitted to the address in subsection (a)(1) above; or 3) By utilizing an ACH payment process that is compatible with the State accounting systems. This option cannot be utilized without first obtaining specific written acceptance from the Department of Insurance. b) Pension funds seeking approval to make payment utilizing the ACH must first obtain the written approval of the Department 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: 1) If a State pension fund, payment information as shown in Illustration A of this Part, which must contain at least the following information: A) Fund account number from which the annual compliance fee may be withdrawn; and B) State pension fund name; or 2) If not a State pension fund, payment information as shown in Illustration B of this Part, which must contain at least the following information: A) Banking account number from which the annual compliance fee payment may be withdrawn; B) Routing number for the financial institution in which the bank account is held; C) The pension fund name; and DEPARTMENT OF INSURANCE NOTICE OF PROPOSED AMENDMENT D) Financial institution's name where the pension fund's account is located. c) Filings made pursuant to subsection (b) of this Section shall be addressed to the Department of Insurance, Tax and Audit Unit, 4800 W. Wabash Ave.320 West Washington, Springfield, Illinois 6276462767-0001. 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. (Source: Amended at 50 Ill. Reg. ______, effective ____________)