IllinoisSB2937104th General Assembly (2025–2026)Senate

PEN CD-CTPF-STATE CONTRIBUTION

Sponsored By: Robert F. Martwick (Democratic)

In Committee

Summary

Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that beginning in State fiscal year 2027, the State (instead of the Chicago Board of Education) shall contribute for each of fiscal years 2027 through 2059, a minimum contribution to the Fund in an amount determined by the Fund to be sufficient to bring the total assets of the Fund up to 90% of the total actuarial liabilities of the Fund by the end of fiscal year 2059. Provides that, in making these determinations, the required contribution shall be calculated each year as a level percentage of the applicable employee payrolls over the years remaining to and including fiscal year 2059 and shall be determined under the projected unit credit actuarial cost method. Amends the School Code to make a conforming change in provisions concerning evidence-based funding. Effective immediately.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Robert F. Martwick

    Democratic • Senate

Cosponsors

  • Graciela Guzmán

    Democratic • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added as Co-Sponsor Sen. Graciela Guzmán

    4/14/2026Senate
  2. Referred to Assignments

    1/27/2026Senate
  3. First Reading

    1/27/2026Senate
  4. Filed with Secretary by Sen. Robert F. Martwick

    1/27/2026Senate

Bill Text

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