Bill Title: Amends the General Obligation Bond Act. Authorizes an additional $700,000,000 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, 2028 (instead of June 30, 2026). Effective immediately.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced) 2026-05-22 - Rule 3-9(a) / Re-referred to Assignments
[SB2950 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
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| Introduced | 2026-01-27 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for Illinois SB2950 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois SB2950 currently on file. |
