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Gov. Pritzker signs bill to extend pension buyout

On Thursday, May 5, Governor JB Pritzker signed House Bill 4292 into law extending the pension...
On Thursday, May 5, Governor JB Pritzker signed House Bill 4292 into law extending the pension buyout option for state employees.(Illinois Governor JB Pritzker/Facebook)
Published: May. 5, 2022 at 5:52 PM CDT
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ILLINOIS (KFVS) - Illinois workers can now take advantage of early access to their pensions through 2026.

On Thursday, May 5, Governor JB Pritzker signed House Bill 4292 into law extending the pension buyout option for state employees.

The bill authorizes $1 billion in additional general funding to extend the buyout program.

Governor Pritzker said the bill helps advance Illinois’ fiscal progress and saves millions of taxpayer dollars.

“The legislation I’ll sign today extends the window for state employees, university workers and educators to take advantage of early access to their pension savings through fiscal year 2026,” he said.

Previously, the buyouts were offered only through June 2024.

The legislation I signed today is yet another bill that advances Illinois’ fiscal progress and will save millions of...

Posted by Governor JB Pritzker on Thursday, May 5, 2022

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