HB5196 - 104th General Assembly (2025-2026)

PEN CD-ACCELERATED BENEFIT
Last Action
3/20/2026 - House: Placed on Calendar 2nd Reading - Short Debate
Statutes Amended In Order of Appearance
30 ILCS 330/2  from Ch. 127, par. 652
30 ILCS 330/2.5  
30 ILCS 330/7.7  
40 ILCS 5/14-147.5  
40 ILCS 5/14-147.6  
40 ILCS 5/15-185.5  
40 ILCS 5/15-185.6  
40 ILCS 5/16-190.5  
40 ILCS 5/16-190.6  
Synopsis As Introduced
Amends the General Obligation Bond Act. Authorizes an additional $1,000,000,000 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, 2030 (instead of June 30, 2026). Effective immediately.

House Committee Amendment No. 1
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes. Amends the General Obligation Bond Act. Authorizes an additional $700,000,000 (rather than $1,000,000,000) 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, 2030). Effective immediately.
Actions
DateChamberAction
2/05/2026HouseFiled with the Clerk by Rep. Bob Morgan
2/10/2026HouseFirst Reading
2/10/2026HouseReferred to Rules Committee
3/04/2026HouseAssigned to Personnel & Pensions Committee
3/04/2026HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Bob Morgan
3/04/2026HouseHouse Committee Amendment No. 1 Referred to Rules Committee
3/18/2026HouseHouse Committee Amendment No. 1 Rules Refers to Personnel & Pensions Committee
3/20/2026HouseAdded Co-Sponsor Rep. Steven Reick
3/20/2026HouseAdded Co-Sponsor Rep. Stephanie A. Kifowit
3/20/2026HouseHouse Committee Amendment No. 1 Adopted in Personnel & Pensions Committee; by Voice Vote
3/20/2026HouseDo Pass as Amended / Short Debate Personnel & Pensions Committee; 010-000-000
3/20/2026HousePlaced on Calendar 2nd Reading - Short Debate
4/02/2026HouseAdded Co-Sponsor Rep. Martha Deuter