Illinois SB 2937: PROCUREMENT-JOINT PURCHASE

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB2937

Introduced 1/27/2026, by Sen. Robert F. Martwick 

SYNOPSIS AS INTRODUCED:

40 ILCS 5/17-127 from Ch. 108 1/2, par. 17-127

40 ILCS 5/17-129 from Ch. 108 1/2, par. 17-129

105 ILCS 5/18-8.15

 Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that beginning in State fiscal year 2027, the State (instead of the Chicago Board of Education) shall contribute for each of fiscal years 2027 through 2059, a minimum contribution to the Fund in an amount determined by the Fund to be sufficient to bring the total assets of the Fund up to 90% of the total actuarial liabilities of the Fund by the end of fiscal year 2059. Provides that, in making these determinations, the required contribution shall be calculated each year as a level percentage of the applicable employee payrolls over the years remaining to and including fiscal year 2059 and shall be determined under the projected unit credit actuarial cost method. Amends the School Code to make a conforming change in provisions concerning evidence-based funding. Effective immediately.

LRB104 19547 RPS 32995 b

A BILL FOR

SB2937LRB104 19547 RPS 32995 b

1 AN ACT concerning public employee benefits.

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

3represented in the General Assembly:

4 Section 5. The Illinois Pension Code is amended by 

5changing Sections 17-127 and 17-129 as follows:

6 (40 ILCS 5/17-127) (from Ch. 108 1/2, par. 17-127)

7 Sec. 17-127. Financing; revenues for the Fund. 

8 (a) The revenues for the Fund shall consist of: (1) 

9amounts paid into the Fund by contributors thereto and from 

10employer contributions and State appropriations in accordance 

11with this Article; (2) a