|
|
|
|
94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB0222
Introduced 2/2/2005, by Sen. John J. Cullerton 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.
|
| |
|
|
| PENSION IMPACT NOTE ACT MAY APPLY | |
|
|
|
A BILL FOR
|
|
|
|
|
SB0222 |
|
LRB094 05057 AMC 35093 b |
|
|
| 1 |
| AN ACT concerning public employee benefits.
|
| 2 |
| Be it enacted by the People of the State of Illinois,
|
| 3 |
| represented in the General Assembly:
|
| 4 |
| Section 5. The Illinois Pension Code is amended by changing |
| 5 |
| 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 of 75% of
for
the |
| 14 |
| cost of the 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 |
| 17 |
| deduction plans, the
Fund may pay the health insurance premium |
| 18 |
| reimbursement on a monthly rather
than annual basis, at the |
| 19 |
| percentage rate established from time to time by
the Board. If |
| 20 |
| the Board so directs, these monthly payments may be made in
the |
| 21 |
| form of a direct payment of premium and a reduction in the |
| 22 |
| amount
deducted from the annuity, rather than in the form of |
| 23 |
| reimbursement by
separate warrant.
|
| 24 |
| (3) Total payments under this Section in any year may not |
| 25 |
| exceed
$65,000,000 plus any amount that was authorized to be |
| 26 |
| paid
under this Section in the preceding year but was not |
| 27 |
| actually paid by the
Board, including any interest earned |
| 28 |
| thereon.
|
| 29 |
| (4) The total amount of payments under this Section in any |
| 30 |
| year may not exceed 75% of the total cost of health insurance |
| 31 |
| coverage in that year for all the recipients who receive |
| 32 |
| payments authorized by this Section in that year.
|