Springfield, IL – State Representatives Raymond Poe (R-Springfield) and Rich Brauer (R-Petersburg) today sent a letter to State Board of Investment Director Bill Atwood (ISBI) requesting a public hearing in Springfield on proposed policy changes to the ISBI managed deferred-compensation (401(k)) program.
“I am very concerned about what we are hearing,” said Poe. “The mutual funds currently used by State employees to invest their 401 (k) assets are relatively transparent entities with publicly quoted asset prices. Considering the tumultuous times we are facing with the stock market, I think we need to put our highest priority on supporting the existing investment decisions made by Illinois state workers and plan participants. Our state workers’ peace of mind must be our highest priority.”
