PEN CD-ACCELERATED BENEFIT Senate SponsorsSen. Robert F. Martwick 3/12/2026SenatePlaced on Calendar Order of 3rd Reading March 24, 2026 30 ILCS 330/2from Ch. 127, par. 65230 ILCS 330/2.530 ILCS 330/7.740 ILCS 5/14-147.540 ILCS 5/14-147.640 ILCS 5/15-185.540 ILCS 5/15-185.640 ILCS 5/16-190.540 ILCS 5/16-190.6Amends 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. 1/27/2026SenateFiled with Secretary by Sen. Robert F. Martwick 1/27/2026SenateFirst Reading 1/27/2026SenateReferred to Assignments 3/3/2026SenateAssigned to Pensions 3/11/2026SenateDo Pass Pensions; 007-000-000 3/11/2026SenatePlaced on Calendar Order of 2nd Reading March 12, 2026 3/12/2026SenateSecond Reading 3/12/2026SenatePlaced on Calendar Order of 3rd Reading March 24, 2026