Teacher Health Insurance Security Fund

Section 2170 Section 2170.410  Teacher Health Insurance Security Fund a)         The Director shall establish the Teacher Health Insurance Security Fund (Fund) (see 5 ILCS 375/6.6).  This Fund shall be a continuing fund not subject to Fiscal Year limitations. b)         All active contributors to the Teachers' Retirement System who are not employees of a Department shall make contributions toward the cost of annuitant and survivor health benefits.  These contributions shall be at the following rates:  until January 1, 2002, 0.5% of salary; beginning January 1, 2002, 0.65% of salary; beginning July 1, 2003, 0.75% of salary; beginning July 1, 2005, 0.80% of salary; and, beginning July 1, 2007 through June 30, 2010, 0.84% of salary.  Future contributions shall be at a percentage of salary to be determined by the Director based on actual costs of the program, but in no Fiscal Year shall the salary required to be paid exceed 105% of the percentage of salary actually paid in the previous Fiscal Year.  These contributions shall be paid to TRS as service agent for CMS. c)         Every employer of a teacher, other than an employer that is a Department, shall pay an employer contribution toward the cost of annuitant and survivor health benefits.  The contributions are computed as follows: January 1, 2002 through June 30, 2003, 0.4% of each teacher's salary; July 1, 2003, 0.5%; beginning July 1, 2005, 0.6% of each teacher's salary; and, beginning July 1, 2007 through June 30, 2010, 0.63% of each teacher's salary.  Future contributions shall be at a percentage of salary to be determined by the Director based on actual costs of the program, but in no Fiscal Year shall the salary required to be paid exceed 105% of the percentage of salary actually paid in the previous Fiscal Year.  These contributions shall be paid to TRS as service agent for CMS. d)         TRS shall deposit all moneys collected pursuant to the terms of the Act and this Section into the Fund. e)         On or before November 15 of each year, the Board of Trustees of TRS shall certify to the Governor, the Directors of CMS and HFS and the State Comptroller its estimate of the total amount of contributions to be paid for the next Fiscal Year.  The amount certified shall be increased or decreased each year by the amount that the actual active teacher contributions either fell short of or exceeded the estimate used by the Board in making the certification for the previous Fiscal Year. f)         On the first day of each month, the State Treasurer and the State Comptroller shall transfer from the General Revenue Fund to the Fund 1/12 of the annual amount appropriated for that Fiscal Year to the State Comptroller for deposit into the Fund pursuant to 5 ILCS 375/6.6(c) and (d).