90th General Assembly Summary of HB3571    [ Home ]   [ Back ]   [ Legislation ]

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House Sponsors:
SAVIANO.

Short description: 
PENCD-CHGO TCHR-HEALTH INSUR                                               

Synopsis of Bill as introduced:
        Amends the Chicago Teacher Article of the Pension Code to  change      
   the  annual  limit  on  the  amount of reimbursement to annuitants for      
   health insurance costs, from $25,000,000 to $40,000,000.   Amends  the      
   State  Mandates  Act  to require implementation without reimbursement.      
   Effective immediately.                                                      
          PENSION NOTE (Pension Laws Commission)                               
          The bill will have an indirect cost to the Fund, as the in-          
          creased amount paid as reimbursement for health insurance costs      
          will no longer be available for reinvestment by the Fund. The        
          potential for slightly lower investment earnings in future           
          years exists.                                                        
 
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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