Illinois SB 4175: MUNI CD-OPED TRUSTS

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB4175

Introduced 3/10/2026, by Sen. Suzy Glowiak Hilton 

SYNOPSIS AS INTRODUCED:

65 ILCS 5/10-4-1.5 new

 Amends the Illinois Municipal Code. Provides that, if the moneys in the general fund of a municipality exceed the municipality's operating expenses for the immediately preceding calendar year, then the municipality may establish an OPEB trust or deposit moneys into an existing OPEB trust. Provides that the trusts are in addition to pension benefits provided by the municipality for its employees under the Illinois Pension Code. Provides that the trustee of the OPEB trusts shall be the municipality. Provides that the treasurer of the municipality and the trustee shall be indemnified by the municipality to the fullest extent permitted by law for their actions taken with respect to the OPEB trust. Provides that the assets of an OPEB trust shall be managed by the treasurer of the municipality in any manner, subject only to the prudent investor standard and any requirements of applicable federal law.

LRB104 21069 RTM 35135 b

A BILL FOR

SB4175LRB104 21069 RTM 35135 b

1 AN ACT concerning local government. 

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Municipal Code is amended by 

5adding Section 10-4-1.5 as follows:

6 (65 ILCS 5/10-4-1.5 new)

7 Sec. 10-4-1.5. Other postemployment benefit trusts.

8 (a) As used in this Section, "OPEB trust" means an other 

9postemployment benefit trust established by a municipality for 

10the purpose of providing for the funding and payment of health 

11and other fringe benefits for retired or terminated employees 

12of the municipality or employees of the