Bill Title: Amends the General Obligation Bond Act. Authorizes an additional $1,000,000,000 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, 2026 (instead of June 30, 2024). Effective immediately.

Spectrum: Bipartisan Bill

Status: (Passed) 2022-05-05 - Public Act . . . . . . . . . 102-0718 [HB4292 Detail]

Text: Latest bill text (Chaptered) [HTML]

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