IL SB1893

Increases the annual cap on Chicago Teachers' Pension Fund (CTPF) health insurance reimbursement payments from $65 million to $100 million

Establishes annual cost-of-living adjustments to the cap based on the consumer price index for medical care in the Chicago-Naperville-Elgin metropolitan area, with increases calculated each September and announced by November 1

Defines the applicable consumer price index as the CPI-U Medical Care index published by the Bureau of Labor Statistics for the Chicago region, with adjustments that cannot be less than zero

Allows unused authorized funds from the previous year, including interest earned, to carry over and be added to the current year's cap

Amends the State Mandates Act to require implementation without reimbursement by the State