IL HB5450

Amends Section 15-158.3 of the Illinois Pension Code to add an expiration date of December 31, 2026 for certain reporting requirements related to higher education employee pension costs

Makes subsections (b), (d), and (e) inoperative on and after December 31, 2026, eliminating the requirement for annual reports on cost reductions from compensable sick leave termination and recommendations regarding retirement provisions

Requires the Illinois Board of Higher Education and Governor's Office of Management and Budget to continue preparing annual fiscal year reports on cost savings from ending compensable sick leave accrual for higher education institution employees until the December 31, 2026 sunset date

These reports must be disseminated to the Board, Commission on Government Forecasting and Accountability, Illinois Board of Higher Education, and the Governor until the expiration date