Illinois legislation · 104th General Assembly
Illinois HB5540: PEN CD-IMRF-ANNUITY PAYMENT
Status: In committee, April 17, 2026
Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Provides that, if the payment of a retirement annuity is made to an annuitant more than one month after that retirement annuity payment became payable, then the Fund shall pay interest to the annuitant in an amount equal to 6% of that payment of the retirement annuity. Amends the Illinois Insurance Code. In provisions concerning the municipal employee's continuance privilege, provides that if an employee has elected to have the monthly premium deducted by the Illinois Municipal Retirement Fund from the employee's monthly pension payment, then the Illinois Municipal Retirement Fund shall promptly remit the premium payments to the insurance company, regardless of whether the employee's monthly pension payment has been paid to the employee. Amends the State Mandates Act to require implementation without reimbursement.
What the bill says
A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB5540Introduced 2/13/2026, by Rep. Tom WeberSYNOPSIS AS INTRODUCED: ILCS 5/7-141.5 new215 ILCS 5/367jfrom Ch. 73, par. 979j30 ILCS 805/8.50 new 40 ILCS 5/7-141.5 new 215 ILCS 5/367j from Ch. 73, par. 979j 30 ILCS 805/8.50 new ILCS 5/7-141.5 new ILCS 5/367j from Ch. 73, par. 979j ILCS 805/8.50 new Amends the Illinois Municipal Retirement Fund (IMRF) Article of theIllinois Pension Code…
From the introduced text, February 6, 2026:
A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB5540Introduced 2/13/2026, by Rep. Tom WeberSYNOPSIS AS INTRODUCED: ILCS 5/7-141.5 new215 ILCS 5/367jfrom Ch. 73, par. 979j30 ILCS 805/8.50 new 40 ILCS 5/7-141.5 new 215 ILCS 5/367j from Ch. 73, par. 979j 30 ILCS 805/8.50 new ILCS 5/7-141.5 new ILCS 5/367j from Ch. 73, par. 979j ILCS 805/8.50 new Amends the Illinois Municipal Retirement Fund (IMRF) Article of theIllinois Pension Code. Provides that, if the payment of a retirementannuity is made to an annuitant more than one month after that retirementannuity payment became payable, then the Fund shall pay interest to theannuitant in an amount equal to 6% of that payment of the retirementannuity. Amends the Illinois Insurance Code. In provisions concerning themunicipal employee's continuance privilege, provides that if an employeehas elected to have the monthly premium deducted by the Illinois MunicipalRetirement Fund from the employee's monthly pension payment, then theIllinois Municipal Retirement Fund shall promptly remit the premiumpayments to the insurance company, regardless of whether the employee'smonthly pension payment has been paid to the employee. Amends the StateMandates Act to require implementation without reimbursement. LRB104 20668 RPS 34166 b LRB104 20668 RPS 34166 b LRB104 20668 RPS 34166 b STATE MANDATES ACT MAY REQUIRE REIMBURSEMENTMAY APPLY STATE MANDATES ACT MAY REQUIRE REIMBURSEMENTMAY APPLY STATE MANDATES ACT MAY REQUIRE …
Sponsors
- Tom Weber (R, 64) · primary sponsor
- Stephanie A. Kifowit (D, 84)
- Dave Severin (R, 116)
- John M. Cabello (R, 90)
- Kevin Schmidt (R, 114)
- Regan Deering (R, 88)
- Charles Meier (R, 109)
- Travis Weaver (R, 93)
- Amy Elik (R, 111)
- Bradley Fritts (R, 74)
- Rita Mayfield (D, 60)
- Natalie A. Manley (D, 98)
Latest actions
- : Rule 19(a) / Re-referred to Rules Committee
- : Added Co-Sponsor Rep. Patrick Sheehan
- : Added Co-Sponsor Rep. Chris Miller
- : Held on Calendar Order of Second Reading - Short Debate
- : Second Reading - Short Debate
- : Added Co-Sponsor Rep. Ryan Spain
- : Added Co-Sponsor Rep. Paul Jacobs
- : Added Co-Sponsor Rep. Jed Davis
- : Added Co-Sponsor Rep. Brad Halbrook
- : Added Co-Sponsor Rep. Dennis Tipsword
Votes
- Do Pass / Short Debate Appropriations-Pensions & Personnel (March 19, 2026): 9 yea, 0 nay, passed
Subjects: ILCS 30 - Finance, ILCS 215 - Insurance, ILCS 40 - Local Government
Common questions
- What is HB5540?
- HB5540 is a bill in the Illinois Legislature (104th General Assembly): PEN CD-IMRF-ANNUITY PAYMENT.
- What does HB5540 do?
- In its own words: A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB5540Introduced 2/13/2026, by Rep. Tom WeberSYNOPSIS AS INTRODUCED: ILCS 5/7-141.5 new215 ILCS 5/367jfrom Ch. 73, par. 979j30 ILCS 805/8.50 new 40 ILCS 5/7-141.5 new 215 ILCS 5/367j from Ch. 73, par. 979j 30 ILCS 805/8.50 new ILCS 5/7-141.5 new ILCS 5/367j from Ch. 73, par. 979j ILCS 805/8.50 new Amends the Illinois Municipal Retirement Fund (IMRF) Article of theIllinois Pension Code…
- What is the status of HB5540?
- In committee as of April 17, 2026. Latest action: Rule 19(a) / Re-referred to Rules Committee (April 17, 2026).
- Who sponsored HB5540?
- Tom Weber (R, 64), with 11 co-sponsors.
- Where is the official record for HB5540?
- On the Illinois Legislature website: https://www.ilga.gov/Legislation/BillStatus?DocNum=5540&GAID=18&DocTypeID=HB&SessionID=114
Source: official Illinois record. Tracked by Delilah, AI for legislation across all 50 states and Congress.