House bill

Statement from Governor Pritzker on Full Passage of Bill 4292

ILLINOIS, April 7 – SPRINGFIELD — Governor JB Pritzker released the following statement released the following statement after the full passage of Bill 4292, which adds two years to the state employee pension buyout program.

“I want to commend Rep. Bob Morgan and Senator Rob Martwick for leading the effort to add two more years to our government employee pension buyout program, which would be extended through June 30, 2026. , under this legislation”, said Governor JB Pritzker. “Since the expansion we put in place at the start of my administration, the program has already resulted in overall liability reductions of $1.4 billion.

“My administration has consistently supported all constitutional actions to improve our pension structures while honoring promises made to retirees. This session alone, we are poised to invest $500 million beyond the required pension payout. by the state, reducing $1.8 billion in unfunded liabilities for taxpayers. I’m delighted to see the General Assembly send this bill to my desk and I look forward to our continued partnership in the responsible management of the State’s pension obligation.”