Signed into LawFiled Feb 5, 2026
Sponsor: Bob Morgan (D)
Latest Action
Public Act . . . . . . . . . 104-0467
Jun 16, 2026
Summary
The law adds $1 billion to the state’s pension‑obligation acceleration bond program and creates a dedicated fund to pay early pension benefits. It also pushes back the deadline for eligible retirees to elect a lump‑sum or reduced‑increase payout from June 30 2026 to June 30 2030. The changes apply to state employees, university staff and downstate teachers who participate in the Illinois pension system.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
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