Illinois SB 1451: HEALTH-TECH

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB1451

Introduced 1/31/2025, by Sen. Robert F. Martwick 

SYNOPSIS AS INTRODUCED:

40 ILCS 5/2-124 from Ch. 108 1/2, par. 2-124

 Amends the General Assembly Article of the Illinois Pension Code. Provides that, in any fiscal year in which the total assets of the System are at least 90% of the total actuarial liabilities of the System, the minimum contribution by the State for that fiscal year shall be the System's normal cost for the fiscal year, plus a supplemental payment in any year in which the total assets of the System are less than 120% of the total actuarial liabilities. Provides that the supplemental payment is to be calculated by using a 30-year rolling amortization to target a ratio of the System's total assets to the System's total actuarial liabilities of 120%. Provides that, if the ratio of the System's total assets to the System's total actuarial liabilities is 120% or greater, but 130% or less, the State is only obligated to make a payment of the normal cost for the fiscal year. Provides that, in any fiscal year in which the ratio of the System's total assets to the System's total actuarial liabilities exceeds 130%, no payment, either for the normal cost or a supplemental payment, shall be paid to the System. Makes conforming changes.

LRB104 08657 RPS 18711 b

A BILL FOR

SB1451LRB104 08657 RPS 18711 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 Section 2-124 as follows:

6 (40 ILCS 5/2-124) (from Ch. 108 1/2, par. 2-124)

7 Sec. 2-124. Contributions by State. 

8 (a) The State shall make contrib