ILLINOIS (WEHT) – According to an Illinois press release, Governor JB Pritzker made the following statement following the full passage of House Bill 4292, which adds two years to the state employee pension buyout program.
“I want to applaud Representative Bob Morgan and Senator Rob Martwick for leading the effort to add an additional two years to our state employee pension buyout program, which would be extended to June 30, 2026, under this legislation,” said Governor JB Pritzker. “Since the expansion we implemented early in my administration, the program has already led to overall liability reductions of $1.4 billion.
Gov. Pritzker added, “My administration has always supported every constitutional action to address our pension structures while honoring promises made to retirees. This session alone, we are set to invest $500 million beyond the state’s required pension payment, reducing unfunded liabilities by $1.8 billion for taxpayers. I’m pleased to see the General Assembly send this legislation to my desk and look forward to our continued partnership in responsibly managing the state’s pension obligation.”