Reported by CommitteeFiled Feb 6, 2026
Sponsor: Tom Weber (R)
Latest Action
Rule 19(a) / Re-referred to Rules Committee
Apr 17, 2026
Summary
The bill adds a requirement that the Illinois Municipal Retirement Fund (IMRF) pay retirees 6% interest on any retirement annuity paid more than one month after it is due. It also mandates that the IMRF send any insurance premiums deducted from a retiree’s pension to the insurer without waiting for the pension check to reach the retiree. The changes affect municipal employees who receive pensions and have elected continued group insurance coverage.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
Track this bill
Get real-time alerts when HB 5540 changes status, plus AI-powered summaries and stage predictions.
Sign up free