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]

Text: Latest bill text (Introduced) [HTML]

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