§4415.80. Hearing on Annual Compliance Fee Amount

A pension fund that wants to challenge the annual compliance fee as calculated by the Public Pension Division pursuant to Section 4415.40 of this Part, and as stated in the notification pursuant to Section 4415.50 of this Part, may submit a written request for hearing pursuant to 50 Ill. Adm. Code 2402 within 15 days after receipt of the notification.  The written request shall include the pension fund's reasons for disagreement with the Public Pension Division's calculation of the annual compliance fee and must include a copy of the Public Pension Division notification sent pursuant to Section 4415.50 of this Part.  The pension fund will not be assessed late fees pursuant to 50 Ill. Adm. Code 4435 and Section 1A-113 of the Code by the Department of Insurance unless the pension fund loses its administrative hearing under 50 Ill. Adm. Code 2402.

 

(Source:  Amended at 30 Ill. Reg. 13176, effective July 24, 2006)