PEN CD-ACCELERATED BENEFIT

What it does

The legislature's own summary of the bill, or its official long title.

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.

Every action

12 steps, oldest first, as the legislature records them.

1. Jan 27, 2026SenateFiled with Secretary by Sen. Robert F. Martwick
2. Jan 27, 2026SenateFirst Reading
3. Jan 27, 2026CommitteeReferred to Assignments · Senate Assignments
4. Mar 3, 2026CommitteeAssigned to Pensions · Senate Pensions
5. Mar 11, 2026CommitteeDo Pass Pensions; 007-000-000 · Senate Pensions
6. Mar 11, 2026SenatePlaced on Calendar Order of 2nd Reading March 12, 2026
7. Mar 12, 2026SenateSecond Reading
8. Mar 12, 2026SenatePlaced on Calendar Order of 3rd Reading March 24, 2026
9. Apr 17, 2026SenateRule 2-10 Third Reading Deadline Established As May 8, 2026
10. May 8, 2026SenateRule 2-10 Third Reading Deadline Established As May 15, 2026
11. May 15, 2026SenateRule 2-10 Third Reading Deadline Established As May 22, 2026
12. May 22, 2026CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments

Roll calls

1 recorded vote: 0 on the floor, 1 in committee. Each shows how every member voted.

Committee votes

Sponsors

The member who introduced it.

• Robert F. MartwickD Primary sponsor · District 10