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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB0222
Introduced 2/2/2005, by Sen. John J. Cullerton 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 Teacher Article of the Illinois Pension Code. Limits what the Board may reimburse for the cost of health care insurance coverage to 75% of the cost for recipients of a service retirement, disability retirement, or survivor's pension and removes other provisions limiting the reimbursement. Effective immediately.
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| PENSION IMPACT NOTE ACT MAY APPLY | |
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A BILL FOR
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SB0222 |
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LRB094 05057 AMC 35093 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 of 75% of
for
the |
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| cost of the 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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| (3) Total payments under this Section in any year may not |
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| exceed
$65,000,000 plus any amount that was authorized to be |
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| paid
under this Section in the preceding year but was not |
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| actually paid by the
Board, including any interest earned |
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| thereon.
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| (4) The total amount of payments under this Section in any |
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| year may not exceed 75% of the total cost of health insurance |
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| coverage in that year for all the recipients who receive |
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| payments authorized by this Section in that year.
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