PEN CD-CTPF-DEFRAY HEALTH INS

Amends the Chicago Teacher Article of the Illinois Pension Code. Beginning in 2020, requires (rather than allows) the Board of Trustees to pay to each recipient of a service retirement, disability retirement, or survivor's pension an amount to be determined by the Board, which shall represent partial or complete reimbursement (rather than partial) for the cost of the recipient's health insurance coverage. Provides that beginning in 2020, the total amount of payments for each year shall equal $65,000,000 plus any amount that was authorized or required to be paid in the preceding year but was not actually paid by the Board, including any interest earned thereon. Makes conforming changes. Effective immediately.