PEN CD-CHGO TCHR-HEALTH INSUR

Amends the Chicago Teacher Article of the Illinois Pension Code. In a Section on payment by the pension fund of certain health insurance costs, authorizes monthly payments to be made as a fixed amount or as a combination of percentage and fixed amount based on what the Board deems most equitable for all plan participants and for the various groups of retirees that are covered by the plan. Provides that the exact formula for payment shall be determined based on the amount available for distribution to the retirees, and their various costs. Effective immediately.