IL HB1428

Establishes a Retiree Health Care Trust for Chicago Transit Authority (CTA) employees, effective 90 days after enactment, to separately manage health care benefits for retirees, dependents, and survivors from the retirement system.

Creates a 7-member Board of Trustees appointed by the CTA Board (3 members), employee organizations (2 members), unrepresented participant coalition (1 member), and Regional Transportation Authority (1 professional fiduciary member).

Sets health care coverage limits at maximum 90% for in-network services and 70% for out-of-network services after deductibles, except HMO plans may provide 100% coverage, effective July 1, 2009.

Requires CTA employees to contribute at least 1% of compensation to the Retiree Health Care Trust beginning January 1, 2022, and caps total retiree, dependent, and survivor contributions at 45% of total benefit costs.

Establishes eligibility requirements for retiree health benefits: age 55 with 10+ years of continuous service (for employees hired after January 18, 2008), or 25+ years of service (for employees hired by September 5, 2001), subject to Board of Trustees rules.