Mendoza Orders Third Round of Pension Pre-Payments

SPRINGFIELD — Comptroller Susana Mendoza has ordered a third round of early pension payments in August, sending $1.336 billion to the state’s six retirement systems, including $428 million in pre-payments, nearly 50% more than usual. The move follows a July payment that doubled the normal pre-payment amount. Officials estimate last month’s payment will generate $20 million in extra investment returns for retiree funds, with this month’s expected to add another $5 million. Mendoza began using this approach in July 2024 to improve state finances under new rules she requested.