Bill > SB1893

This bill modifies the Illinois Pension Code by increasing the maximum annual reimbursement for health insurance costs from $65,000,000 to $100,000,000 for pensioners. The bill introduces an annual adjustment mechanism where the maximum reimbursement amount will be increased each year by the unadjusted consumer price index (CPI) percentage change for the preceding 12 months ending in September, with the increase guaranteed to be at least zero percent. The bill allows the Board to provide partial reimbursement for health insurance costs to recipients of service retirement, disability retirement, or survivor's pensions, either through an annual payment or monthly payments. For pensioners enrolled in the Fund's health care deduction plans, the Fund may pay health insurance premiums directly and potentially reduce the amount deducted from their annuity. By amending the State Mandates Act, the bill also requires that these provisions be implemented without additional state reimbursement. The consumer price index is a standard economic indicator that measures the average change in prices paid by urban consumers for goods and services, effectively tracking inflation.

Budget and Finance

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1893&GAID=18&DocTypeID=SB&SessionID=114&GA=104