Signed by Governor JB Pritzker

Vote Smart's Synopsis:

Vote to pass a bill that transfers $2.7 billion from Pension Stabilization Fund to the Office of the State Comptroller.

Highlights:

• Appropriates $300 million from the General Revenue Fund to the Office of the State Comptroller for deposit into the Pension Stabilization Fund (Sec. 1).

• Appropriates $3.6 million from the Pension Stabilization Fund to the Office of the State Comptroller for funding the unfunded liabilities of the Judges Retirement System of Illinois (Sec. 1).

• Appropriates $64.8 million from the Pension Stabilization Fund to the Office of the State Comptroller for funding the unfunded liabilities of the State Employees’ Retirement System of Illinois (Sec. 1).

• Appropriates $172.8 million from the Pension Stabilization Fund to the Office of the State Comptroller for funding the unfunded liabilities of the Teachers’ Retirement System of the State of Illinois (Sec. 1).

• Appropriates $58.1 million from the Pension Stabilization Fund to the Office of the State Comptroller for funding the unfunded liabilities of the State Universities Retirement System (Sec. 1).

• Appropriates $2.7 billion from the State Coronavirus Urgent Remediation Emergency Fund to the Department of Employment Security for payment to the Illinois Unemployment Insurance Trust Fund for partial repayment of Title XII advances, including prior year costs (Article 3, Sec. 35).

• Appropriates $250 million for the General Revenue Fund to the Illinois Student Assistance Commission for deposit into the Illinois Prepaid Tuition Trust Fund (Article 4, Sec. 135).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that transfers $2.7 billion from Pension Stabilization Fund to the Office of the State Comptroller.

Highlights:

• Appropriates $300 million from the General Revenue Fund to the Office of the State Comptroller for deposit into the Pension Stabilization Fund (Sec. 1).

• Appropriates $3.6 million from the Pension Stabilization Fund to the Office of the State Comptroller for funding the unfunded liabilities of the Judges Retirement System of Illinois (Sec. 1).

• Appropriates $64.8 million from the Pension Stabilization Fund to the Office of the State Comptroller for funding the unfunded liabilities of the State Employees’ Retirement System of Illinois (Sec. 1).

• Appropriates $172.8 million from the Pension Stabilization Fund to the Office of the State Comptroller for funding the unfunded liabilities of the Teachers’ Retirement System of the State of Illinois (Sec. 1).

• Appropriates $58.1 million from the Pension Stabilization Fund to the Office of the State Comptroller for funding the unfunded liabilities of the State Universities Retirement System (Sec. 1).

• Appropriates $2.7 billion from the State Coronavirus Urgent Remediation Emergency Fund to the Department of Employment Security for payment to the Illinois Unemployment Insurance Trust Fund for partial repayment of Title XII advances, including prior year costs (Article 3, Sec. 35).

• Appropriates $250 million for the General Revenue Fund to the Illinois Student Assistance Commission for deposit into the Illinois Prepaid Tuition Trust Fund (Article 4, Sec. 135).

Full Bill Text