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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 HB4341
Introduced , by Rep. Richard T. Bradley SYNOPSIS AS INTRODUCED: |
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40 ILCS 5/17-142.1 |
from Ch. 108 1/2, par. 17-142.1 |
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Amends the Chicago Teachers Article of the Illinois Pension Code. Provides that the total amount of payments made by the Board of Trustees of the Public School Teachers' Pension and Retirement Fund of Chicago to defray health insurance costs in any year may not exceed 85% (was, 75%) of the total cost of health insurance coverage in that year for all the recipients who receive such payments in that year. Effective July 1, 2008.
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| PENSION IMPACT NOTE ACT MAY APPLY | |
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A BILL FOR
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HB4341 |
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LRB095 14501 AMC 40408 b |
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| AN ACT concerning public employee benefits.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Illinois Pension Code is amended by changing |
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| Section 17-142.1 as follows: |
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| (40 ILCS 5/17-142.1) (from Ch. 108 1/2, par. 17-142.1)
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| Sec. 17-142.1. To defray health insurance costs. To provide |
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| for the
partial reimbursement of health insurance costs.
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| (1) On the first day of September of each year, beginning |
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| in 1988,
the Board may, by separate warrant, pay to each |
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| recipient of a service
retirement, disability retirement or |
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| survivor's pension an amount to be
determined by the Board, |
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| which shall represent partial reimbursement for
the cost of the |
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| recipient's health insurance coverage.
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| (2) In lieu of the annual payment authorized in subdivision |
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| (1), for
pensioners enrolled in the Fund's regular health care |
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| deduction plans, the
Fund may pay the health insurance premium |
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| reimbursement on a monthly rather
than annual basis, at the |
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| percentage rate established from time to time by
the Board. If |
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| the Board so directs, these monthly payments may be made in
the |
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| form of a direct payment of premium and a reduction in the |
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| amount
deducted from the annuity, rather than in the form of |
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| reimbursement by
separate warrant.
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