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IL HB5610

Bill

Official Source

Status

Introduced

2/6/2026

Primary Sponsor

Travis Weaver

Click for details

Origin

House of Representatives

104th General Assembly

AI Summary

  • Amends the Budget Stabilization Act to require additional annual transfers from the General Revenue Fund to the Pension Stabilization Fund starting in fiscal year 2030
  • Mandates transfers of $600,000,000 per year for fiscal years 2030 through 2033
  • Requires transfers of $1,700,000 per year from fiscal year 2034 through fiscal year 2045
  • Transfers terminate at the end of fiscal year 2045 or when all five designated retirement systems (State Employees', Teachers', State Universities, Judges, and General Assembly) achieve 100% funding, whichever occurs first
  • Specifies that these additional payments do not reduce or substitute for required State contributions under the Illinois Pension Code and cannot be counted toward required contribution calculations until systems reach 100% funding

Legislative Description

BUDGET STABILIZATION-PENSION

Last Action

Referred to Rules Committee

2/13/2026

Committee Referrals

Rules2/13/2026

Full Bill Text

No bill text available