Illinois legislation · 104th General Assembly
Illinois SB3403: PEN CD-BD OF INVESTMENT AUDIT
Status: Signed into law, August 21, 2026
Amends the Investment Board Article of the Illinois Pension. Provides that, if the Illinois State Board of Investment has not received a required audit opinion by December 15, the Board shall not be considered in violation of a provision requiring an annual report to each pension fund, retirement system, or education fund under the Board's jurisdiction within 6 months after the close of each fiscal year. Effective immediately.
What the bill says
A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026SB3403Introduced 2/4/2026, by Sen. Robert F. MartwickSYNOPSIS AS INTRODUCED: ILCS 5/22A-115from Ch. 108 1/2, par. 22A-115 40 ILCS 5/22A-115 from Ch. 108 1/2, par. 22A-115 ILCS 5/22A-115 from Ch. 108 1/2, par. 22A-115 Amends the Investment Board Article of the Illinois Pension…
From the introduced text, February 4, 2026:
A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026SB3403Introduced 2/4/2026, by Sen. Robert F. MartwickSYNOPSIS AS INTRODUCED: ILCS 5/22A-115from Ch. 108 1/2, par. 22A-115 40 ILCS 5/22A-115 from Ch. 108 1/2, par. 22A-115 ILCS 5/22A-115 from Ch. 108 1/2, par. 22A-115 Amends the Investment Board Article of the Illinois Pension. Providesthat, if the Illinois State Board of Investment has not received a requiredaudit opinion by December 15, the Board shall not be considered inviolation of a provision requiring an annual report to each pension fund,retirement system, or education fund under the Board's jurisdiction within6 months after the close of each fiscal year. Effective immediately. LRB104 19237 RPS 32683 b LRB104 19237 RPS 32683 b LRB104 19237 RPS 32683 b A BILL FOR SB3403LRB104 19237 RPS 32683 b SB3403 LRB104 19237 RPS 32683 b SB3403 LRB104 19237 RPS 32683 b AN ACT concerning public employee benefits. Be it enacted by the People of the State of Illinois, represented in the General Assembly: Section 5.The Illinois Pension Code is amended by changing Section 22A-115 as follows: (40 ILCS 5/22A-115)(from Ch. 108 1/2, par. 22A-115) Sec. 22A-115.Audits and reports.At least annually, the books, records, accounts and securities of the board shall be audited by a certified public accountant designated by the Auditor General of the State. The audit opinion shall …
Sponsors
- Robert F. Martwick (D, 10) · primary sponsor
- Janet Yang Rohr (D, 41) · primary sponsor
- Laura Faver Dias (D, 62)
Latest actions
- : Public Act . . . . . . . . . 104-0849
- : Effective Date August 21, 2026
- : Governor Approved
- : Sent to the Governor
- : Passed Both Houses
- : Senate Concurs
- : House Floor Amendment No. 1 Senate Concurs 057-000-001
- : House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Pensions; 009-000-000
- : House Floor Amendment No. 1 Motion to Concur Assignments Referred to Pensions
- : House Floor Amendment No. 1 Motion to Concur Referred to Assignments
Votes
- House Floor Amendment No. 1 Senate Concurs (May 31, 2026): 57 yea, 0 nay, passed
- House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Pensions (May 30, 2026): 9 yea, 0 nay, passed
- Third Reading - Short Debate - Passed (May 28, 2026): 89 yea, 20 nay, passed
- House Floor Amendment No. 1 Recommends Be Adopted Personnel & Pensions Committee (May 28, 2026): 7 yea, 4 nay, passed
- Do Pass / Short Debate Personnel & Pensions Committee (May 7, 2026): 10 yea, 0 nay, passed
- Third Reading - Passed (April 16, 2026): 57 yea, 0 nay, passed
Subjects: ILCS 40 - Local Government
Common questions
- What is SB3403?
- SB3403 is a bill in the Illinois Legislature (104th General Assembly): PEN CD-BD OF INVESTMENT AUDIT.
- What does SB3403 do?
- In its own words: A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026SB3403Introduced 2/4/2026, by Sen. Robert F. MartwickSYNOPSIS AS INTRODUCED: ILCS 5/22A-115from Ch. 108 1/2, par. 22A-115 40 ILCS 5/22A-115 from Ch. 108 1/2, par. 22A-115 ILCS 5/22A-115 from Ch. 108 1/2, par. 22A-115 Amends the Investment Board Article of the Illinois Pension…
- What is the status of SB3403?
- Signed into law as of August 21, 2026. Latest action: Public Act . . . . . . . . . 104-0849 (August 21, 2026).
- Who sponsored SB3403?
- Robert F. Martwick (D, 10), with 2 co-sponsors.
- Where is the official record for SB3403?
- On the Illinois Legislature website: https://www.ilga.gov/Legislation/BillStatus?DocNum=3403&GAID=18&DocTypeID=SB&SessionID=114
Source: official Illinois record. Tracked by Delilah, AI for legislation across all 50 states and Congress.