{"data":{"id":"us-il/40-ilcs-5-1-113.20","jurisdiction":"us-il","citation":"40 ILCS 5/1-113.20","heading":"Investment strategies; explicit and implicit costs.","body":"Every pension fund, retirement system, and investment board created under this Code, except those whose investments are restricted by Section 1-113.2 of this Code, shall instruct the fund's, system's, or board's investment advisors to utilize investment strategies designed to ensure that all securities transactions are executed in such a manner that the total explicit and implicit costs and total proceeds in every transaction are the most favorable under the circumstances.","path":["CHAPTER 40 PENSIONS","Illinois Pension Code."],"source_url":"https://www.ilga.gov/legislation/ILCS/details?ActID=638\u0026ChapterID=9\u0026ChapAct=FullText\u0026Print=True","current_through":"at least Public Act 104-790","vintage":"","retrieved_at":"2026-09-15T04:46:20Z","sha256":"93a96fb347c6db24a595f5332fde08d919761d94aa9cb4b05e2fc3263175e5a8","source_id":"us-il","stale":false,"prev":"us-il/40-ilcs-5-1-113.18","next":"us-il/40-ilcs-5-1-113.21"},"notice":"GroundRules: Original legal text. Not legal advice."}