Full Text of SB1235 99th General Assembly
SB1235sam002 99TH GENERAL ASSEMBLY | Sen. Donne E. Trotter Filed: 4/30/2015
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| 1 | | AMENDMENT TO SENATE BILL 1235
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1235 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Illinois Pension Code is amended by | 5 | | changing Section 17-142.1 as follows: | 6 | | (40 ILCS 5/17-142.1) (from Ch. 108 1/2, par. 17-142.1)
| 7 | | Sec. 17-142.1. To defray health insurance costs. To provide | 8 | | for the
partial reimbursement of health insurance costs.
| 9 | | (1) On the first day of September of each year, beginning | 10 | | in 1988,
the Board may, by separate warrant, pay to each | 11 | | recipient of a service
retirement, disability retirement or | 12 | | survivor's pension an amount to be
determined by the Board, | 13 | | which shall represent partial reimbursement for
the cost of the | 14 | | recipient's health insurance coverage.
| 15 | | (2) In lieu of the annual payment authorized in subdivision | 16 | | (1), for
pensioners enrolled in the Fund's regular health care |
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| 1 | | deduction plans, the
Fund may pay the health insurance premium | 2 | | reimbursement on a monthly rather
than annual basis, at the | 3 | | percentage rate established from time to time by
the Board. If | 4 | | the Board so directs, these monthly payments may be made in
the | 5 | | form of a direct payment of premium and a reduction in the | 6 | | amount
deducted from the annuity, rather than in the form of | 7 | | reimbursement by
separate warrant.
| 8 | | (3) Total payments under this Section in any year may not | 9 | | exceed
$65,000,000 plus any amount that was authorized to be | 10 | | paid
under this Section in the preceding year but was not | 11 | | actually paid by the
Board, including any interest earned | 12 | | thereon.
| 13 | | (4) The total amount of payments under this Section in any | 14 | | year may not exceed 75% of the total cost of health insurance | 15 | | coverage in that year for all the recipients who receive | 16 | | payments authorized by this Section in that year.
| 17 | | (5) There is hereby created the Chicago Teachers' Pension | 18 | | Fund Health Insurance Task Force. The Task Force shall consist | 19 | | of 11 members appointed as follows: | 20 | | (a) Eight members, 2 of whom shall be appointed by each | 21 | | of the 4 legislative leaders. | 22 | | (b) One member, who shall be appointed by the board of | 23 | | trustees of the Fund. | 24 | | (c) One member, who shall be appointed by the executive | 25 | | director of the Retired Teachers Association of Chicago. | 26 | | (d) One member, who shall be appointed by the president |
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| 1 | | of the Chicago Teachers Union. | 2 | | The Task force shall study and consider the program of | 3 | | health insurance coverage for pensioners that is currently | 4 | | administered by the Fund, and shall present its findings and | 5 | | recommendations concerning the following specified matters: | 6 | | (i) the need for increasing the $65,000,000 limitation | 7 | | on annual payments under subsection (3) of this Section; | 8 | | (ii) moving the administration of the retiree health | 9 | | plan to another appropriate public or private entity; | 10 | | (iii) suggestions for an exit strategy and transition; | 11 | | (iv) consideration of alternative funding mechanisms; | 12 | | and | 13 | | (v) consideration of the proper role of fiduciaries in | 14 | | administering the health insurance program. | 15 | | Members of the Task Force shall serve without compensation. | 16 | | The Fund shall provide a meeting place and clerical support for | 17 | | the Task Force. | 18 | | The Task Force shall present a final report of its findings | 19 | | and recommendations to the Governor of Illinois, the Mayor of | 20 | | Chicago, the Illinois General Assembly, and the Illinois State | 21 | | Library no later than January 31, 2016. Upon the filing of its | 22 | | report and the conclusion of its business, the Task Force is | 23 | | abolished. | 24 | | (Source: P.A. 93-677, eff. 6-28-04.)
| 25 | | Section 99. Effective date. This Act takes effect upon |
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| 1 | | becoming law.".
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