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John T. Mitchell of MVT Investments shared the following email message sent Nov. 13, 2019 regarding legislation about public pension consolidation:

Up to 677 witness slips opposed and 18 in favor.
Under the Committee rules only 445 will be registered as the other 200 or so came in too late. Vote was 7 to 3 and really that is all that counted in getting the bill to the House Floor.
Saw some names of folks I know. A lot are retired now. Even saw some old clients from my union days. A couple of attorneys filled opposition witness slips. Chicago FOP fellows filled opposition slips and Chicago Firefighters were opposed.
9 slips were for NoPosition. IPFA took no position until they could study the bill more.
Could be a house vote today. Not sure when the liquidation of investments will occur. May be sooner rather than latter. One finance director thought it will be such a mess that it could take a year. State actuary pick will be using investment guesses based upon increased equity exposure along with a”smoothing” approach in case we encounter problems in the market.
Greg K said he is speaking at IPAC and I suspect he will have some great insights into what is coming.
House system seems to be taking in more witness slips if anybody wants to put in a witness slip regarding the bill.

More updates will follow as we track developments regarding this important matter.