SPRINGFIELD, Ill. (AP) — More than 80,000 retired government employees will have to start paying for health insurance under legislation Gov. Pat Quinn signed Thursday, ending a major benefit that Illinois had promised to employees.
Future state retirees will also have to pay under the legislation, part of a push to curb state spending on retirement benefits. That applies to roughly 200,000 people who already took government jobs with the understanding that they would not pay insurance premiums after retirement.
Exactly how much the additional expense will be isn't clear. Insurance rates will be negotiated with unions and approved by a legislative commission.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.