IllinoisSB2950104th General Assembly (2025–2026)SenateWALLET

PEN CD-ACCELERATED BENEFIT

Sponsored By: Robert F. Martwick (Democratic)

In Committee

Summary

Amends the General Obligation Bond Act. Authorizes an additional $700,000,000 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, 2028 (instead of June 30, 2026). Effective immediately.

assignmentspensions

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Robert F. Martwick

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 7 • No: 0

Senate vote • 3/11/2026

Do Pass Pensions;

Yes: 7 • No: 0

Actions Timeline

  1. Rule 3-9(a) / Re-referred to Assignments

    5/22/2026Senate
  2. Rule 2-10 Third Reading Deadline Established As May 22, 2026

    5/15/2026Senate
  3. Rule 2-10 Third Reading Deadline Established As May 15, 2026

    5/8/2026Senate
  4. Rule 2-10 Third Reading Deadline Established As May 8, 2026

    4/17/2026Senate
  5. Placed on Calendar Order of 3rd Reading March 24, 2026

    3/12/2026Senate
  6. Second Reading

    3/12/2026Senate
  7. Placed on Calendar Order of 2nd Reading March 12, 2026

    3/11/2026Senate
  8. Do Pass Pensions; 007-000-000

    3/11/2026Senate
  9. Assigned to Pensions

    3/3/2026Senate
  10. Referred to Assignments

    1/27/2026Senate
  11. First Reading

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

    1/27/2026Senate

Bill Text

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