95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB4344


 
Introduced , by Rep. Richard T. Bradley
 
SYNOPSIS AS INTRODUCED:
 		













40 ILCS 5/17-142.1
  from Ch. 108 1/2, par. 17-142.1








    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.
















LRB095 14500 AMC 40407 b

















PENSION IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 









HB4344

LRB095 14500 AMC 40407 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.


 


 






HB4344
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LRB095 14500 AMC 40407 b




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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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(Source: P.A. 93-677, eff. 6-28-04.)

 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.