IL HB2324

Amends the Retiree Health Care Trust for Chicago Transit Authority (CTA) to become solely responsible for providing health care benefits to eligible retirees and their dependents upon exhaustion of the retirement plan's 401(h) account, between January 1, 2009 and July 1, 2009.

Allows health maintenance organization (HMO) coverage at 100% while other health care benefit programs are limited to 90% coverage for in-network services or 70% for out-of-network services, effective July 1, 2009 and later.

Requires retirees hired on or before September 5, 2001 with 25 or more years of continuous service to be eligible for retiree health care benefits upon retirement in accordance with Board of Trustees rules.

Establishes that retiree, dependent, and survivor contributions cannot exceed 45% of total health care benefit costs as of January 1, 2009, and requires all CTA employees to contribute at least 3% of compensation to the Retiree Health Care Trust effective January 18, 2008.

Authorizes the Board of Trustees to adopt rules allowing refunds of total contributions made by employees who are ineligible for or elect to waive retiree health care benefits, and requires annual assessments of trust funding levels submitted to the State Auditor General.