104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB0691
 
Introduced 1/24/2025, by Sen. Don Harmon
 
SYNOPSIS AS INTRODUCED:
 
40 ILCS 15/1
    Amends the State Pension Funds Continuing Appropriation Act. Makes a technical change in a Section concerning appropriations from the State Pensions Fund.


LRB104 06999 RPS 17036 b

 
 
A BILL FOR
 
SB0691LRB104 06999 RPS 17036 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois, 
3represented in the General Assembly:
 
4    Section 5. The State Pension Funds Continuing 
5Appropriation Act is amended by changing Section 1 as follows:
 
6    (40 ILCS 15/1)
7    Sec. 1. Appropriations from State Pensions Fund. 
8    (a) For the the purpose of making up any deficiency in the 
9appropriations to the designated retirement systems that are 
10required to be made under Section 8.12 of the State Finance 
11Act, there is hereby appropriated, on a continuing annual 
12basis in each fiscal year, from the State Pensions Fund to each 
13designated retirement system, the amount, if any, by which the 
14total appropriation to that system from the State Pensions 
15Fund for that fiscal year is less than the amount required to 
16be appropriated to that retirement system under Section 8.12 
17of the State Finance Act.
18    The annual appropriation under this Section to each 
19designated retirement system shall take effect on July 1 for 
20the State fiscal year beginning on that date.
21    The amount of any continuing appropriation used by a 
22retirement system under this Section for a given fiscal year 
23shall be charged against the unexpended amount of any 
 
 
SB0691- 2 -LRB104 06999 RPS 17036 b

1appropriation to that retirement system for that fiscal year 
2under Section 8.12 of the State Finance Act that subsequently 
3becomes available, subject to Section 8.3 of the State Finance 
4Act.
5    "Designated retirement systems" means the State Employees' 
6Retirement System of Illinois, the Teachers' Retirement System 
7of the State of Illinois, the State Universities Retirement 
8System, the Judges Retirement System of Illinois, and the 
9General Assembly Retirement System.
10    The appropriations made in this Section are appropriated 
11to the designated retirement systems for the funding of the 
12unfunded liabilities of the designated retirement systems and 
13are in addition to, and not in lieu of, any State contributions 
14required under the Illinois Pension Code.
15    (b) For State fiscal year 2011 only, a continuing 
16appropriation is provided to the State Universities' 
17Retirement System that shall not exceed the amount certified 
18by the System on or before December 31, 2009; however, the 
19continuing appropriation shall not reduce the amount in the 
20State Pensions Fund below $5,000,000. 
21(Source: P.A. 95-950, eff. 8-29-08; 96-959, eff. 7-1-10.)