Bill Status of HB5119

  1. Home
  2. Legislation
  3. Bill Status

HB5119 - 104th General Assembly

PEN CD-PENSION FUND REGULATION
Last Action
4/10/2026 - Senate: Placed on Calendar Order of First Reading April 14, 2026
House Sponsors
Rep. Stephanie A. Kifowit
Statutes Amended In Order of Appearance
40 ILCS 5/1A-101
40 ILCS 5/1A-106
40 ILCS 5/1A-107
40 ILCS 5/1A-108
40 ILCS 5/1A-109
40 ILCS 5/1A-113
40 ILCS 5/1A-201 rep.
Synopsis As Introduced
Amends the Regulation of Public Pension Funds Article of the Illinois Pension Code. Provides that the Public Pension Division of the Department of Insurance may (instead of shall) render advisory services to the pension funds on all matters pertaining to their operations. Provides that recommendations for corrective or clarifying legislation may (instead of shall) be made in the report of examination of the particular pension fund and in a biennial report to the General Assembly. Provides that the report to the Governor and General Assembly shall include the results of examinations made by an independent certified public accountant retained by the Police Officers' Pension Investment Fund or the Firefighters' Pension Investment Fund for examinations of a downstate police or downstate firefighter pension fund. Requires downstate police and downstate firefighter pension funds to include, in their annual report to the Public Pension Division, details on transactions pertaining to nontransferable assets that funds retain after transferring investments to the Police Officers' Pension Investment Fund or the Firefighters' Pension Investment Fund. Provides that, if a penalty is not paid within 30 days of the date of assessment and no just cause has been communicated, the Director of Insurance may (instead of if a penalty is not paid within 30 days of the date of assessment, the Director without further notice shall) report the act of noncompliance to the Attorney General. Repeals provisions establishing the Advisory Commission on Pension Benefits. Makes other changes.
Actions
Date Chamber Action
2/05/2026 House Filed with the Clerk by Rep. Stephanie A. Kifowit
2/10/2026 House First Reading
2/10/2026 House Referred to Rules Committee
3/12/2026 House Assigned to Personnel & Pensions Committee
3/20/2026 House Do Pass / Short Debate Personnel & Pensions Committee; 010-000-000
3/20/2026 House Placed on Calendar 2nd Reading - Short Debate
4/08/2026 House Second Reading - Short Debate
4/08/2026 House Placed on Calendar Order of 3rd Reading - Short Debate
4/09/2026 House Third Reading - Short Debate - Passed 099-000-000
4/10/2026 Senate Arrive in Senate
4/10/2026 Senate Placed on Calendar Order of First Reading April 14, 2026