Illinois 104th General Assembly Status: Introduced 1 D cosponsors

SB4166      — PEN CD-STATE SYS-FUNDING

Last action — Referred to Assignments

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced March 04, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Amends the Illinois Pension Code. Provides that the amendatory Act may be referred to as the Pension Security and Cost Efficiency Act. Sets forth findings. Provides that, beginning in State fiscal year 2027 and continuing through State fiscal year 2045, the State shall make the required annual State contributions to the 5 State-funded retirement systems on the first day of the fiscal year. For State fiscal years 2027 through 2031, authorizes, if the State Actuary makes a specified written certification, up to $6,000,000,000 in Pension Obligation Bonds to be used for the sole purpose of reducing the principal balance of unfunded liabilities of the 5 State-funded retirement systems. Provides that the proceeds of pension obligation bonds may not be used to fund the State's normal cost, to reduce or replace any minimum contribution otherwise required, or to pay benefits attributable to service rendered after the date of deposit of the proceeds. Provides that, for State fiscal years 2027 through 2031, the Governor is authorized to direct the payment of supplemental State contributions to the 5 State-funded retirement systems for the purpose of further front-loading payments and reducing unfunded liabilities. Provides that, for State fiscal years 2032 through 2045, the minimum contribution to each State-funded retirement system to be made by the State for each fiscal year shall be the re-amortized minimum contribution, which shall be calculated as a level-dollar amount over the years remaining to and including State fiscal year 2045 and shall be sufficient, in combination with employee contributions, investment income, and other income, to bring the total assets of each State-funded retirement system to at least 90% of its total actuarial liabilities by the end of State fiscal year 2045. Makes conforming changes. Amends the State Pension Funds Continuing Appropriation Act to make conforming changes. Effective immediately.

Bill Text

We don't have the full text on file for this bill yet.

Read SB4166 on the official Illinois source →

Action History

  1. Referred to Assignments

  2. First Reading

  3. Filed with Secretary by Sen. Kimberly A. Lightford

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 182 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB4166      do?
Amends the Illinois Pension Code. Provides that the amendatory Act may be referred to as the Pension Security and Cost Efficiency Act. Sets forth findings. Provides that, beginning in State fiscal year 2027 and continuing through State fiscal year 2045, the State shall make the required annual State contributions to the 5 State-funded retirement systems on the first day of the fiscal year. For State fiscal years 2027 through 2031, authorizes, if the State Actuary makes a specified written certification, up to $6,000,000,000 in Pension Obligation Bonds to be used for the sole purpose of reducing the principal balance of unfunded liabilities of the 5 State-funded retirement systems. Provides that the proceeds of pension obligation bonds may not be used to fund the State's normal cost, to reduce or replace any minimum contribution otherwise required, or to pay benefits attributable to service rendered after the date of deposit of the proceeds. Provides that, for State fiscal years 2027 through 2031, the Governor is authorized to direct the payment of supplemental State contributions to the 5 State-funded retirement systems for the purpose of further front-loading payments and reducing unfunded liabilities. Provides that, for State fiscal years 2032 through 2045, the minimum contribution to each State-funded retirement system to be made by the State for each fiscal year shall be the re-amortized minimum contribution, which shall be calculated as a level-dollar amount over the years remaining to and including State fiscal year 2045 and shall be sufficient, in combination with employee contributions, investment income, and other income, to bring the total assets of each State-funded retirement system to at least 90% of its total actuarial liabilities by the end of State fiscal year 2045. Makes conforming changes. Amends the State Pension Funds Continuing Appropriation Act to make conforming changes. Effective immediately.
Who sponsors SB4166     ?
SB4166      is sponsored by Kimberly A. Lightford (Democrat).
What is the current status of SB4166     ?
This bill has been introduced in the Senate. Introduced March 04, 2026. It must pass committee before a floor vote.
Where can I track SB4166     ?
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