SB4175 - 104th General Assembly (2025-2026)

MUNI CD-OPED TRUSTS
Last Action
3/10/2026 - Senate: Referred to Assignments
Statutes Amended In Order of Appearance
65 ILCS 5/10-4-1.5 new  
Synopsis As Introduced
Amends the Illinois Municipal Code. Provides that, if the moneys in the general fund of a municipality exceed the municipality's operating expenses for the immediately preceding calendar year, then the municipality may establish an OPEB trust or deposit moneys into an existing OPEB trust. Provides that the trusts are in addition to pension benefits provided by the municipality for its employees under the Illinois Pension Code. Provides that the trustee of the OPEB trusts shall be the municipality. Provides that the treasurer of the municipality and the trustee shall be indemnified by the municipality to the fullest extent permitted by law for their actions taken with respect to the OPEB trust. Provides that the assets of an OPEB trust shall be managed by the treasurer of the municipality in any manner, subject only to the prudent investor standard and any requirements of applicable federal law.
Actions
DateChamberAction
3/10/2026SenateFiled with Secretary by Sen. Suzy Glowiak Hilton
3/10/2026SenateFirst Reading
3/10/2026SenateReferred to Assignments