Section 2180.410  Community College Health Insurance Security Fund

a)         The Director shall establish the Community College Health Insurance Security Fund (see 5 ILCS 375/6.10).  This Fund shall be a continuing fund not subject to Fiscal Year limitations.

b)         An active contributor to the State Universities Retirement System who:

1)         is a full-time employee of a community college district or an association of community college boards and

2)         is not an employee of a State Department as defined in the Act shall make contributions toward the cost of annuitant and survivor health benefits at the rate of 0.5% of salary.  These contributions shall be paid to SURS as service agent for CMS.

c)         Every community college district or association of community college boards that is an employer under SURS contributes toward the cost of the community college health benefits in an amount equal to 0.5% of the salary paid to its full-time employees who participate in SURS and are not members as defined in the Act.  These contributions shall be paid to SURS as service agent for CMS.

d)         SURS shall deposit all moneys collected into the Community College Health Insurance Security Fund.

e)         On or before November 15 of each year, the Board of Trustees of SURS shall certify to the Governor, the Director of CMS and the State Comptroller its estimate of the total amount of contributions to be paid for the next fiscal year.

f)         On the first day of each month the State Treasurer and the State Comptroller shall transfer from the General Revenue Fund to the Community College Health Insurance Fund 1/12 of the annual amount appropriated for that fiscal year to the State Comptroller for deposit into the Community College Health Insurance Security Fund pursuant to 5 ILCS 375/6.10(c) and (d).