HB5540

Illinois HB5540 amends the Illinois Pension Code to ensure continued group insurance coverage for retired or disabled employees and their spouses.

Illinois HB5540 amends the Illinois Pension Code to provide continued group insurance coverage for retired or disabled employees and their spouses. The bill mandates that no distinction or discrimination in the amount or rate of premiums or in any waiver of premium or other benefit provision shall be made between continued group insurance coverage elected pursuant to this Section and equivalent coverage provided to employees under the group policy. The bill also requires municipalities to give written notice to employees about the right to elect continued coverage.