# Illinois SB4166: PEN CD-STATE SYS-FUNDING

Illinois SB4166, PEN CD-STATE SYS-FUNDING, is a 104th General Assembly (2025–2026) Senate bill sponsored by Kimberly A. Lightford (Democratic); status in committee, last action 2026-03-04 (Referred to Assignments) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-SB4166-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois SB4166
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: PEN CD-STATE SYS-FUNDING
- Status: in committee
- Chamber: Senate
- Introduced: 2026-03-04
- Last action: 2026-03-04, Referred to Assignments
- Sponsor: Kimberly A. Lightford (Democratic)
- Cosponsors: 0
- Subjects: assignments
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Amends the Illinois Pension Code. Provides that the amendatory Act may be referred to as the Pension Security and Cost Efficiency Act. Sets forth findings. Provides that, beginning in State fiscal year 2027 and continuing through State fiscal year 2045, the State shall make the required annual State contributions to the 5 State-funded retirement systems on the first day of the fiscal year. For State fiscal years 2027 through 2031, authorizes, if the State Actuary makes a specified written certification, up to $6,000,000,000 in Pension Obligation Bonds to be used for the sole purpose of reducing the principal balance of unfunded liabilities of the 5 State-funded retirement systems. Provides that the proceeds of pension obligation bonds may not be used to fund the State's normal cost, to reduce or replace any minimum contribution otherwise required, or to pay benefits attributable to service rendered after the date of deposit of the proceeds. Provides that, for State fiscal years 2027 through 2031, the Governor is authorized to direct the payment of supplemental State contributions to the 5 State-funded retirement systems for the purpose of further front-loading payments and reducing unfunded liabilities. Provides that, for State fiscal years 2032 through 2045, the minimum contribution to each State-funded retirement system to be made by the State for each fiscal year shall be the re-amortized minimum contribution, which shall be calculated as a level-dollar amount over the years remaining to and including State fiscal year 2045 and shall be sufficient, in combination with employee contributions, investment income, and other income, to bring the total assets of each State-funded retirement system to at least 90% of its total actuarial liabilities by the end of State fiscal year 2045. Makes conforming changes. Amends the State Pension Funds Continuing Appropriation Act to make conforming changes. Effective immediately.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Kimberly A. Lightford (Democratic), Senate

## Actions (3)

- 2026-03-04: Referred to Assignments (Senate)
- 2026-03-04: First Reading (Senate)
- 2026-03-04: Filed with Secretary by Sen. Kimberly A. Lightford (Senate)

## Bill text

- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB4166.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/SB/PDF/10400SB4166.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-SB4166-2025-2026 (as of 2026-11-01).