# Illinois HB4892: PENCD-SURS-DEFERRED RETIREMENT

Illinois HB4892, PENCD-SURS-DEFERRED RETIREMENT, is a 104th General Assembly (2025–2026) House bill sponsored by Katie Stuart (Democratic); status in committee, last action 2026-03-27 (Rule 19(a) / Re-referred to Rules Committee) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-HB4892-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois HB4892
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: PENCD-SURS-DEFERRED RETIREMENT
- Status: in committee
- Chamber: House
- Introduced: 2026-02-03
- Last action: 2026-03-27, Rule 19(a) / Re-referred to Rules Committee
- Sponsor: Katie Stuart (Democratic)
- Cosponsors: 0
- Subjects: appropriations-pensions & personnel
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Amends the State Universities Article of the Illinois Pension Code. Creates a deferred retirement option plan (DROP) for certain participating employees who are eligible to retire under the Article, have never received a retirement annuity from the System, and are active participants in the System. Provides that, during the period of the DROP, the System shall credit to a notional account on behalf of the DROP member an amount equal to the monthly amount of retirement annuity the DROP member would otherwise be eligible to receive had the DROP member retired on the date of the election. Provides that an eligible member may elect to participate in the DROP for a period not to exceed 5 years from the date of election. Requires a DROP member to terminate employment with the employer upon expiration of their participation in the DROP. Sets forth other provisions concerning interest on the account; termination of the DROP; contributions; administrative costs; transfer of administrative responsibility to the State Treasurer; and the tax-qualified status of the System.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Katie Stuart (Democratic), House

## Actions (5)

- 2026-03-27: Rule 19(a) / Re-referred to Rules Committee (House)
- 2026-03-04: Assigned to Appropriations-Pensions & Personnel (House)
- 2026-02-06: Referred to Rules Committee (House)
- 2026-02-06: First Reading (House)
- 2026-02-03: Filed with the Clerk by Rep. Katie Stuart (House)

## Bill text

- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB4892.pdf)

## Related bills

- HB5198: AFFORDABLE HOUSING-CILAS (passed house)
- SB1937: PENSION CODE-VARIOUS (passed senate)
- HB2563: CONDO-RESERVE STUDY (in committee)
- HB4701: LIMITATIONS FACILITY FEES ACT (in committee)
- SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate)
- SB3484: VEH CD-PLATES-REGISTRATION (signed)

## Sources
- [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB4892.pdf)

## Related
- [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026)
- [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026)
- [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026)
- [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026)
- [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026)
- [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026)
- [Illinois bills](https://policyrisk.com/states/illinois/bills)
- [Illinois state hub](https://policyrisk.com/states/illinois)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IL-HB4892-2025-2026 (as of 2026-11-01).