# Illinois HB5196: PEN CD-ACCELERATED BENEFIT Illinois HB5196, PEN CD-ACCELERATED BENEFIT, is a 104th General Assembly (2025–2026) House bill sponsored by no sponsor on record; status signed, last action 2026-06-16 (Public Act . . . . . . . . . 104-0467); PRIA reads it as touching household money (as of 2026-11-01). - Canonical: https://policyrisk.com/state-bill/IL-HB5196-2025-2026 - As of: 2026-11-01 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Illinois HB5196 - State: Illinois - Session: 104th General Assembly (2025–2026) - Title: PEN CD-ACCELERATED BENEFIT - Status: signed - Chamber: House - Introduced: 2026-02-05 - Last action: 2026-06-16, Public Act . . . . . . . . . 104-0467 - Sponsors: no sponsor on record - Cosponsors: 14 - Subjects: personnel & pensions, assignments, pensions - Touches household money: yes - Roll calls: 5 (196 yes, 0 no in all) - Economic provisions PRIA read: 3 ## Summary Amends the General Obligation Bond Act. Authorizes an additional $1,000,000,000 of State Pension Obligation Acceleration Bonds. Makes a conforming change. Amends the State Employees, State Universities, and Downstate Teachers Articles of the Illinois Pension Code. Extends the option for a participant to receive an accelerated pension benefit payment in lieu of any pension benefit or for a reduction in the increases to his or her annual retirement annuity and survivor's annuity to June 30, 2030 (instead of June 30, 2026). Effective immediately. ## Bill overview: provisions PRIA read - Former public workers get pension buyout choice: mixed, high. Through June 30, 2028, some former members of the Article 14, 15, and 16 retirement systems can choose a one-time payment. They must have left service, have enough service credit for an annuity, and not have received one. The payment is 60% of the pension benefits’ estimated value today, and the ch… - Illinois expands borrowing for pension payments: mixed, high. Illinois raises its total general bond authorization by $1 billion, to about $83.7 billion, and authorizes $3.2 billion in bonds for accelerated pension payments. After sale expenses, the bond money goes to a fund for those payments or for principal and interest on the bonds. The law also excludes… - Pension members trade raises for lump sums: mixed, medium. Through June 30, 2028, eligible members of the Article 14, 15, and 16 systems can choose accelerated pension payments before their first annuity payment. For eligible Tier 1 members in Articles 14 and 16, the lump sum is 70% of a specified difference in estimated values. In exchange, future annuity… ## Sponsors and cosponsors - Cosponsor: Andrew S. Chesney (Republican), Senate - Cosponsor: Bob Morgan (Democratic), House - Cosponsor: Chris Balkema (Republican), Senate - Cosponsor: Janet Yang Rohr (Democratic), House - Cosponsor: Jennifer Sanalitro (Republican), House - Cosponsor: Li Arellano, Jr. (Republican), Senate - Cosponsor: Martha Deuter (Democratic), House - Cosponsor: Matt Hanson (Democratic), House - Cosponsor: Nicolle Grasse (Democratic), House - Cosponsor: Robert F. Martwick (Democratic), Senate - Cosponsor: Sara Feigenholtz (Democratic), Senate - Cosponsor: Stephanie A. Kifowit (Democratic), House - Cosponsor: Steven Reick (Republican), House - Cosponsor: Suzy Glowiak Hilton (Democratic), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-05-29 | Senate | Third Reading - Passed; | pass | 56 | 0 | | | 2026-05-27 | Senate | Do Pass Pensions; | pass | 10 | 0 | | | 2026-04-16 | House | Third Reading - Short Debate - Passed | pass | 109 | 0 | | | 2026-04-16 | House | House Floor Amendment No. 2 Recommends Be Adopted Personnel & Pensions Committee; | pass | 11 | 0 | | | 2026-03-20 | House | Do Pass as Amended / Short Debate Personnel & Pensions Committee; | pass | 10 | 0 | | ## Actions (53) - 2026-06-16: Public Act . . . . . . . . . 104-0467 (House) - 2026-06-16: Effective Date June 16, 2026 (House) - 2026-06-16: Governor Approved (House) - 2026-06-10: Sent to the Governor (House) - 2026-05-29: Passed Both Houses (House) - 2026-05-29: Third Reading - Passed; 056-000-000 (Senate) - 2026-05-29: 3/5 Vote Required (Senate) - 2026-05-29: Added as Alternate Co-Sponsor Sen. Chris Balkema (Senate) - 2026-05-29: Added as Alternate Co-Sponsor Sen. Suzy Glowiak Hilton (Senate) - 2026-05-29: Added as Alternate Co-Sponsor Sen. Li Arellano, Jr. (Senate) - 2026-05-28: Placed on Calendar Order of 3rd Reading May 29, 2026 (Senate) - 2026-05-28: Second Reading (Senate) - 2026-05-28: Added as Alternate Co-Sponsor Sen. Sara Feigenholtz (Senate) - 2026-05-27: Placed on Calendar Order of 2nd Reading (Senate) - 2026-05-27: Do Pass Pensions; 010-000-000 (Senate) - 2026-05-22: Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2026 (Senate) - 2026-05-19: Assigned to Pensions (Senate) - 2026-05-19: Rule 2-10 Committee Deadline Established As May 22, 2026 (Senate) - 2026-04-30: Added as Alternate Chief Co-Sponsor Sen. Andrew S. Chesney (Senate) - 2026-04-30: Alternate Chief Sponsor Changed to Sen. Robert F. Martwick (Senate) - 2026-04-21: Referred to Assignments (Senate) - 2026-04-21: First Reading (Senate) - 2026-04-21: Chief Senate Sponsor Sen. Andrew S. Chesney (Senate) - 2026-04-21: Placed on Calendar Order of First Reading (Senate) - 2026-04-21: Arrive in Senate (Senate) - 2026-04-16: Added Co-Sponsor Rep. Matt Hanson (House) - 2026-04-16: Added Co-Sponsor Rep. Jennifer Sanalitro (House) - 2026-04-16: Added Co-Sponsor Rep. Nicolle Grasse (House) - 2026-04-16: Third Reading - Short Debate - Passed 109-000-000 (House) - 2026-04-16: Placed on Calendar Order of 3rd Reading - Short Debate (House) - 2026-04-16: House Floor Amendment No. 2 Adopted (House) - 2026-04-16: Recalled to Second Reading - Short Debate (House) - 2026-04-16: Added Chief Co-Sponsor Rep. Janet Yang Rohr (House) - 2026-04-16: House Floor Amendment No. 2 Pension Note Filed as Amended (House) - 2026-04-16: House Floor Amendment No. 2 Recommends Be Adopted Personnel & Pensions Committee; 011-000-000 (House) - 2026-04-14: House Floor Amendment No. 2 Rules Refers to Personnel & Pensions Committee (House) - 2026-04-10: House Floor Amendment No. 2 Referred to Rules Committee (House) - 2026-04-10: House Floor Amendment No. 2 Filed with Clerk by Rep. Bob Morgan (House) - 2026-04-08: Placed on Calendar Order of 3rd Reading - Short Debate (House) - 2026-04-08: Second Reading - Short Debate (House) - 2026-04-02: Added Co-Sponsor Rep. Martha Deuter (House) - 2026-03-20: Placed on Calendar 2nd Reading - Short Debate (House) - 2026-03-20: Do Pass as Amended / Short Debate Personnel & Pensions Committee; 010-000-000 (House) - 2026-03-20: House Committee Amendment No. 1 Adopted in Personnel & Pensions Committee; by Voice Vote (House) - 2026-03-20: Added Co-Sponsor Rep. Stephanie A. Kifowit (House) - 2026-03-20: Added Co-Sponsor Rep. Steven Reick (House) - 2026-03-18: House Committee Amendment No. 1 Rules Refers to Personnel & Pensions Committee (House) - 2026-03-04: House Committee Amendment No. 1 Referred to Rules Committee (House) - 2026-03-04: House Committee Amendment No. 1 Filed with Clerk by Rep. Bob Morgan (House) - 2026-03-04: Assigned to Personnel & Pensions Committee (House) - 2026-02-10: Referred to Rules Committee (House) - 2026-02-10: First Reading (House) - 2026-02-05: Filed with the Clerk by Rep. Bob Morgan (House) ## Bill text - Engrossed: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5196eng.pdf) - Enrolled: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5196enr.pdf) - House Amendment 1: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5196ham001.pdf) - House Amendment 2: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5196ham002.pdf) - Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5196.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 - [Engrossed (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5196eng.pdf) - [Enrolled (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5196enr.pdf) - [House Amendment 1 (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5196ham001.pdf) - [House Amendment 2 (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5196ham002.pdf) - [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5196.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-HB5196-2025-2026 (as of 2026-11-01).