2018 Tier 2 Wage Cap Increases; Registration Opens For New Webinar; Keep IMRF Informed Of Employee Information Changes

November 15, 2017


In This Issue: 2018 Tier 2 wage cap increases Registration opens for new webinar Keep IMRF informed of employee information changes	Quick Links: Visit IMRF's website Log in to Employer Access Employer Digest email archive

2018 Tier 2 wage cap increases

For 2018, Tier 2 member wages do not include compensation in excess of $113,644.91.

Employers will continue to report earnings over $113,644.91 but will not withhold any IMRF contributions for wages above the cap. IMRF will not accept contributions for 2018 wages over $113,644.91 for Tier 2 members.

The wage cap period is based on the calendar year, regardless of your employer's fiscal year. If a member reaches the 2018 wage cap, the employer must:

Stop withholding member contributions from the member's paycheck.
Keep reporting the member's wages to IMRF.

Contact IMRF using the exclusive, employer-only phone, 1-800-728-7971, with any questions or to address any complex circumstances related to the Tier 2 wage cap.

Registration opens for new webinar

Registration is now open for IMRF's new webinar program, "IMRF's Funding Policy," taking place Wednesday, December 6, at 1:30 PM. This is the final installment in IMRF's year-long webinar series.

Louis W. Kosiba, Executive Director, and Mark Nannini, Chief Financial Officer, will provide a general overview of IMRF's actuarial funding policy, assess key funding objectives, and review the components that affect IMRF's funding policy. A question-and-answer session will follow the presentation.

The Funding Policy webinar will begin at 1:30 PM (attendees will be able to log in to the event beginning at 1:00 PM); the entire program is scheduled for one hour. Since this presentation covers in-depth financial information, Authorized Agents are encouraged to advise their auditors, financial officers, and governing body members to register here for "IMRF's Funding Policy" webinar program.

Keep IMRF informed of employee information changes

Changes in an employee's position, plan, or earnings can affect their IMRF coverage. Authorized Agents are reminded to update IMRF records with all changes to an employee's information.

The "Changes in Employee Information" page of IMRF's website provides a checklist of key circumstances that should be reported to IMRF, including:

Name, address, or other informational changes
Election to make or change Voluntary Additional Contributions
Changes to a member's employment or IMRF plan, or a change from an elected position to a non-elected position.

The Web page also includes a link to Employer Access and downloadable forms to complete employee information updates as needed.

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.

IMRF

2211 York Rd., Suite 500

Oak Brook, IL 60523-2337

Member-only Phone: 1-800-ASK-IMRF (275-4673)

Employer-only Phone: 1-800-728-7971

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