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In This Issue:
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Quick Links:
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 2017 Final Rate Notices available
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Your employer's 2017 Final Rate Notice is available in the Employer Document archive of Employer Access.
If you have questions about your employer's rate notice, contact IMRF using the Employer-only phone, 1-800-728-7971, to speak with a Member Services representative.
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Employer survey to be released
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IMRF will release the "2016 Key Services Provided to Employers" customer survey on Monday, November 7. The survey will be sent via email to all Authorized Agents and Web Assistants.
Responses will be used to gauge employer feedback on the services IMRF currently provides and help improve our established processes.
Upon receipt of the email, Authorized Agents and Web Assistants are encouraged to complete and return the survey. Your participation and feedback will help IMRF continue to provide the highest quality retirement services to our employers and our members.
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New video series profiles Endorsed Insurance Plans
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IMRF introduces a new video series highlighting the benefits of the NCPERS Voluntary Decreasing Term Life Insurance program.
Specifically created for IMRF employers, one new video uses an engaging platform to highlight the value of offering the NCPERS program to employees. A companion video, created for employees, encourages participation in the plan as a long-term added benefit. Topics covered in both presentations include coverage, cost, and participation.
Employers interested in offering the program (and those currently offering the program, but in need of assistance) may contact the plan's administrator, HealthSmart Benefit Solutions, Inc., directly by phone: (800) 525-8056, or email: NCPERS@Healthsmart.com. Open enrollment for the NCPERS Voluntary Decreasing Term Life Insurance program continues until November 30. Learn more here.
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| Increase in 2017 for Tier 2 retirement benefits |
Eligible IMRF Tier 2 annuitants will receive a .75% (.0075) increase in their monthly retirement benefits, effective with the January 2017 payment.
Each January 1, an annual increase is calculated on annuitants' original benefit amounts. This increase is the lower of:
- Three percent
- One-half of the increase in the Consumer Price Index-Urban (CPI-U) for the preceding year of the original amount.
There is no increase if the CPI-U decreases or is zero.
The U.S. Bureau of Labor Statistics recently announced that the September 2016 CPI-U was 1.5% above the September 2015 CPI-U.
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| IMRF receives PPCC award |
IMRF recently received the 2016 Public Pension Standards Award for Funding and Administration from the Public Pension Coordinating Council (PPCC). The award recognizes IMRF's achievement in meeting professional standards for plan funding and administration, as set forth in the Public Pension Standards.
The PPCC is a coalition of three associations - National Association of State Retirement Administrators (NASRA), National Council on Teacher Retirement (NCTR), and National Conference on Public Employee Retirement Systems (NCPERS) - representing public retirement systems covering the majority of public employees in the United States. The Public Pension Standards reflect the expectations for public retirement system management and administration, and serve as a benchmark measuring all defined benefit public plans.
IMRF is a multiple recipient of a PPCC award.
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| October 2016 Employer Reminder:
2016 Executive Trustee Election
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In November, IMRF employers will elect one Executive Trustee for a five-year term. The term will run from January 1, 2017, through December 31, 2021.
The following IMRF members submitted nominating petitions with signatures from at least three IMRF employers for the 2016 Executive Trustee election:
- David Miller, Deputy Executive Director, North Shore Water Reclamation District
- Brad Trent, Deputy Highway Commissioner, Rockford Township
Read the election details for eligible voting members of IMRF in the October 2016 Employer Reminder.
There will be no Employee Trustee election as current Employee Trustee Alex Wallace, Jr., of the Oswego Community Unit School District 308, is unopposed.
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You are receiving this email because you have been identified as an Employer Contact of IMRF. As such, you cannot opt out of receiving this email. To update your Employer Contact information, log in to your IMRF Employer Access account.
If someone at your employer would like to receive Employer Digest and does not have an IMRF Employer Access account, you can log in to your IMRF Employer Access account and add them as a "News Subscriber" or they may sign up here.
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2211 York Road, Suite 500
Oak Brook, IL 60523-2337
Member-only Phone: 1-800-ASK-IMRF (275-4673)
Employer-only Phone: 1-800-728-7971
This email is sent from an unmonitored mailbox. Please do not reply to this message.
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