Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.
SB3403 • 2026
PEN CD-BD OF INVESTMENT AUDIT
This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.
Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.
PEN CD-BD OF INVESTMENT AUDIT
These notes stay tied to the official amendment files and metadata from the legislature.
Plain English: Illinois General Assembly - Full Text of SB3403 Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience.
Sent to the Governor
House Floor Amendment No. 1 Senate Concurs 057-000-001
Senate Concurs
Passed Both Houses
House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Pensions ; 009-000-000
House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Robert F. Martwick
House Floor Amendment No. 1 Motion to Concur Referred to Assignments
House Floor Amendment No. 1 Motion to Concur Assignments Referred to Pensions
House Floor Amendment No. 1 Recommends Be Adopted Personnel & Pensions Committee ; 007-004-000
Recalled to Second Reading - Short Debate
House Floor Amendment No. 1 Adopted by Voice Vote
Placed on Calendar Order of 3rd Reading - Short Debate
Third Reading - Short Debate - Passed 089-020-000
Secretary's Desk - Concurrence House Amendment(s) 1
Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 29, 2026
House Floor Amendment No. 1 Rules Refers to Personnel & Pensions Committee
House Floor Amendment No. 1 Pension Note Filed as Amended
House Floor Amendment No. 1 Filed with Clerk by Rep. Janet Yang Rohr
House Floor Amendment No. 1 Referred to Rules Committee
Third Reading/Final Action Deadline Extended-9(b) May 31, 2026
Added Alternate Chief Co-Sponsor Rep. Laura Faver Dias
Second Reading - Short Debate
Placed on Calendar Order of 3rd Reading - Short Debate
Do Pass / Short Debate Personnel & Pensions Committee ; 010-000-000
Placed on Calendar 2nd Reading - Short Debate
Pension Note Filed
Assigned to Personnel & Pensions Committee
Arrived in House
Chief House Sponsor Rep. Janet Yang Rohr
First Reading
Referred to Rules Committee
Third Reading - Passed; 057-000-000
Placed on Calendar Order of 3rd Reading ** April 15, 2026
Second Reading
Placed on Calendar Order of 3rd Reading March 10, 2026
Do Pass Pensions ; 007-000-000
Placed on Calendar Order of 2nd Reading March 5, 2026
Assigned to Pensions
Filed with Secretary by Sen. Robert F. Martwick
First Reading
Referred to Assignments
PEN CD-BD OF INVESTMENT AUDIT
Illinois General Assembly - Full Text of SB3403 Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein. Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet. The English language version is always the official and authoritative version of this website. NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window. Choose Language English Afrikaans Albanian Arabic Armenian Azerbaijani Basque Bengali Bosnian Catalan Croatian Czech Danish Dutch Esperanto Estonian Filipino Finnish French Galician Georgian German Greek Gujarati Haitian Creole Hausa Hawaiian Hebrew Hindi Hungarian Icelandic Indonesian Interlingua Interlingue Inuktitut Irish Italian Japanese Javanese Kannada Khmer Korean Latin Latvian Lithuanian Luxembourgish Macedonian Malagasy Malayalam Maltese Maori Marathi Myanmar Nepali Norwegian Odia Pashto Punjabi Romanian Russian Samoan Sango Sanskrit Sardinian Sindhi Sinhala Slovak Slovenian Somali Southern Sotho Spanish Sundanese Swahili Swedish Tamil Telugu Thai Tigrinya Tonga Turkish Ukrainian Urdu Vietnamese Welsh Xhosa Yiddish Yoruba Zulu Powered by Translate Close Illinois General Assembly Top Navigation Bar Translate Learn Select General Assembly Search the 104th General Assembly Enter search terms for legislation, members, committees, or schedules. ILGA.GOV LEGISLATION & LAWS Bills & Resolutions Public Acts Illinois Compiled Statutes Illinois Constitution Search Legislation Glossary Guide Reports & Inquiry Legislative Reports Special Reports FTP Site Legislator Lookup Capitol Complex Phone Numbers Rules & Regulations Illinois Register Administrative Rules Senate Members Schedules Committees Request for Remote Testimony Journals Transcripts Rules Audio/Video FOIA Information Senate Employment Opportunities Media Guidelines House Members Schedules Committees Submit testimony for House Committees Journals Transcripts Rules Audio/Video FOIA Information House Employment Opportunities Log In Mobile Top Bar Search the 104th General Assembly Enter keywords to search the Illinois General Assembly website. Full Text of SB3403 Home Legislation Full Text SB3403 - 104th General Assembly Bill Status Full Text Votes Witness Slips Select Menu Bill Status Full Text Votes Witness Slips Printer Friendly Version Introduced Engrossed Enrolled House Amendment 001 Printer Friendly Version Introduced Engrossed Enrolled House Amendment 001 Open PDF SB3403 Enrolled LRB104 19237 RPS 32683 b 1 AN ACT concerning public employee benefits. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Pension Code is amended by 5 changing Sections 4-110 and 22A-115 as follows: 6 (40 ILCS 5/4-110) (from Ch. 108 1/2, par. 4-110) 7 Sec. 4-110. Disability pension; line pension - Line of 8 duty. If a firefighter, as the result of sickness, accident or 9 injury incurred in or resulting from the performance of an act 10 of duty or from the cumulative effects of acts of duty, is 11 found, pursuant to Section 4-112, to be physically or mentally 12 permanently disabled for service in the fire department, so as 13 to render necessary his or her being placed on disability 14 pension, the firefighter shall be entitled to a disability 15 pension equal to the greater of (1) 65% of the monthly salary 16 attached to the rank held by him or her in the fire department 17 at the date he or she is removed from the municipality's fire 18 department payroll or (2) the retirement pension that the 19 firefighter would be eligible to receive if he or she retired 20 (but not including any automatic annual increase in that 21 retirement pension). A firefighter shall be considered "on 22 duty" while on any assignment approved by the chief of the fire 23 department, even though away from the municipality he or she SB3403 Enrolled - 2 - LRB104 19237 RPS 32683 b 1 serves as a firefighter, if the assignment is related to the 2 fire protection service of the municipality. 3 Such firefighter shall also be entitled to a child's 4 disability benefit of $20 a month on account of each unmarried 5 child less than 18 years of age and dependent upon the 6 firefighter for support, either the issue of the firefighter 7 or legally adopted by him or her. The total amount of child's 8 disability benefit payable to the firefighter, when added to 9 his or her disability pension, shall not exceed 75% of the 10 amount of salary which the firefighter was receiving at the 11 date of retirement. 12 Benefits payable on account of a child under this Section 13 shall not be reduced or terminated by reason of the child's 14 attainment of age 18 if he or she is then dependent by reason 15 of a physical or mental disability but shall continue to be 16 paid as long as such dependency continues. Individuals over 17 the age of 18 and adjudged to be disabled persons pursuant to 18 Article XIa of the Probate Act of 1975, except for persons 19 receiving benefits under Article III of the Illinois Public 20 Aid Code, shall be eligible to receive benefits under this 21 Act. 22 If a firefighter dies while still disabled and receiving a 23 disability pension under this Section, the disability pension 24 shall continue to be paid to the firefighter's survivors in 25 the sequence provided in Section 4-114. 26 The disability pension under this Section that continues SB3403 Enrolled - 3 - LRB104 19237 RPS 32683 b 1 to be paid to the firefighter's survivors shall be increased 2 to $50,051.76 and adjusted by a simple 3% increase annually 3 from the initial adjustment if all of the following conditions 4 are met: 5 (1) the firefighter died in 2023; 6 (2) the firefighter died less than 6 months before his 7 or her 60th birthday; and 8 (3) by no later than one year after the effective date 9 of this amendatory Act of the 104th General Assembly, the 10 board of trustees of the fire protection district adopted 11 an ordinance or resolution granting the increase. 12 A pension previously granted under Section 4-114 to a 13 survivor of a firefighter who died while receiving a 14 disability pension under this Section shall be deemed to be a 15 continuation of the pension provided under this Section and 16 shall be deemed to be in the nature of worker's compensation 17 payments. The changes to this Section made by this amendatory 18 Act of 1995 are intended to be retroactive and are not limited 19 to persons in service on or after its effective date. 20 (Source: P.A. 93-1090, eff. 3-11-05.) 21 (40 ILCS 5/22A-115) (from Ch. 108 1/2, par. 22A-115) 22 Sec. 22A-115. Audits and reports. At least annually, the 23 books, records, accounts and securities of the board shall be 24 audited by a certified public accountant designated by the 25 Auditor General of the State. The audit opinion shall be SB3403 Enrolled - 4 - LRB104 19237 RPS 32683 b 1 published as a part of the annual report of the board. 2 For the quarterly periods ending September 30, December 3 31, and March 31, the board shall submit to each pension fund, 4 retirement system or education fund under its jurisdiction a 5 report embracing, among other things, the following 6 information: (a) a full description of the investments 7 acquired, showing average costs; (b) a full description of the 8 securities sold or exchanged, showing average proceeds or 9 other conditions of an exchange; (c) gains or losses realized 10 during the period; (d) income from investments; (e) 11 administrative expenses of the board; and (f) the proportion 12 of administrative expenses allocable to each pension fund, 13 retirement system or education fund. 14 An annual report shall be prepared by the board for 15 submission to each pension fund, retirement system or 16 education fund under its jurisdiction within 6 months after 17 the close of each fiscal year , except that the board shall not 18 be considered in violation of this provision if the board has 19 not received the audit opinion required pursuant to this 20 Section by December 15 . A fiscal year shall date from July 1 of 21 one year to June 30 of the year next following. This report 22 shall embody full information concerning the results of 23 investment operations of the board for the year, including the 24 foregoing information and, in addition thereto, the following: 25 (a) a listing of the investments held by the board as at 26 the end of the year showing their book values and market values SB3403 Enrolled - 5 - LRB104 19237 RPS 32683 b 1 and their income yields on market values; 2 (b) the amounts as determined under paragraph (a) above 3 allocable to each pension fund or education fund managed by 4 the board; 5 (c) comments on the pertinent factors affecting the 6 operations of the board for the year; 7 (d) a review of the policies maintained by the board and 8 any changes therein that occurred during the year; 9 (e) a copy of the audited financial statements for the 10 year; 11 (f) recommendations for possible changes in the law 12 governing the operations of the board; and 13 (g) a listing of the names of securities brokers and 14 dealers dealt with during the year showing the total amount of 15 commissions received by each on transactions with the board. 16 (Source: P.A. 84-1127.) 17 Section 90. The State Mandates Act is amended by adding 18 Section 8.50 as follows: 19 (30 ILCS 805/8.50 new) 20 Sec. 8.50. Exempt mandate. Notwithstanding Sections 6 and 21 8 of this Act, no reimbursement by the State is required for 22 the implementation of any mandate created by this amendatory 23 Act of the 104th General Assembly. 24 Section 99. Effective date. This Act takes effect upon SB3403 Enrolled - 6 - LRB104 19237 RPS 32683 b 1 becoming law. Footer Disclaimer This site is maintained for the Illinois General Assembly by the Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706. Contact ILGA Webmaster ILGA.gov uses cookies to ensure you get the best experience on our website. By continuing to browse ILGA.gov you consent to our use of cookies. Read About Cookies ILGA.GOV 2026 ILGA.gov | All Rights Reserved | ADA | Disclaimers | Learn This site is maintained for the Illinois General Assembly by the Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706. Contact ILGA Webmaster ILGA.gov uses cookies to ensure you get the best experience on our website. By continuing to browse ILGA.gov you consent to our use of cookies. Read About Cookies ILGA.GOV 2026 ILGA.gov | All Rights Reserved | ADA | Disclaimers | Learn