IL HB2789

Amends Illinois Pension Code Section 17-142.1 to modify health insurance reimbursement for Chicago Teachers' Pension Fund recipients of service retirement, disability retirement, or survivor's pensions.

Removes the $65,000,000 annual cap on health insurance reimbursement payments and eliminates the 75% limitation on total annual reimbursements relative to total health insurance costs.

Establishes new reimbursement limits: recipients may receive maximum reimbursement of 50% of their total health insurance costs, capped at 2.2% of their health insurance costs for each year of service credit.

Allows reimbursement payments to be made monthly instead of annually for pensioners in regular health care deduction plans, with payments either as direct premium payments or as reductions in annuity deductions.

Exempts the implementation of this mandate from requiring state reimbursement under the State Mandates Act and takes effect July 1, 2013.