What is the cost of retiree health insurance?
On July 7, 1997, Governor Edgar signed into law Public Act 90-65 (a.k.a House Bill 110). This act directed state employees with less than 20 years of service credit who retired on or after January 1, 1998, to share in the cost of health insurance premiums based upon years of service credit. The State of Illinois agreed to pay 5% of the retiree´s premiums for each year of service up to 20 years. Consequently, a member who achieves 20 or more years of service credit and qualifies for state insurance benefits in retirement, receives fully paid retiree health insurance benefits.
