HB5196 - 104th General Assembly (2025-2026)

PEN CD-ACCELERATED BENEFIT
Last Action
2/10/2026 - House: Referred to Rules Committee
House Sponsors
Rep. Bob Morgan
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.
Actions
DateChamberAction
2/05/2026HouseFiled with the Clerk by Rep. Bob Morgan
2/10/2026HouseFirst Reading
2/10/2026HouseReferred to Rules Committee