Welcome to
Employer Digest, your monthly source for IMRF news and information to help you stay connected with IMRF.
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2018 Annual Financial Report Published
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IMRF's
2018 Comprehensive Annual Financial Report (CAFR),
Popular Annual Financial Report (PAFR), and associated documents are now available on IMRF's website.
We are excited to share a
new online format for our 2018 PAFR that
includes images you can enlarge to learn more about IMRF's financial performance last year. The PAFR is derived from the CAFR and is written for IMRF stakeholders without a background in finance.
Additionally, the following documents are now available in the "Display Annual Documents" section of
Employer Access:
- 2018 Schedule of Changes in Fiduciary Net Position by Employer
- 2018 Reconciliation Adjustments Schedule
- 2018 IMRF Census Data Attestation Report
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Employer Rate Meeting Webinar Recording Available
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IMRF's
2019 Employer Rate Meeting Webinar, recorded Tuesday, May 14, is now available to listen to any time on IMRF's website. During the webinar, Executive Director Brian Collins and Chief Financial Officer Mark Nannini shared the impact of year-end financial and actuarial data on IMRF, and the data's estimated impact on individual employers.
You may
view the webinar here. We encourage you to share the webinar with your employer's financial officers, governing body members, and other interested parties.
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Board Approves Changes to Certification Requirements for Elected and Appointed Officials
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On Friday, May 17, 2019, the IMRF Board of Trustees adopted
IMRF Board Resolution 2019-05-09(d), which changes the certification requirements for members of governing bodies and other elected positions.
Governing Body Positions
For all governing body positions, elected or appointed, the governing body for a unit of government must pass a resolution certifying that the governing body position is expected to meet the employer's hourly standard. With the new process,
governing body positions no longer need to be recertified every two years. Employers are still expected to review these positions on an ongoing basis to ensure they continue to meet the hourly standard. If an employer has an existing resolution on file with IMRF, no additional action is necessary for governing body positions to continue to qualify for IMRF participation.
Non-governing Body Elected Positions
For all elected positions not part of the governing body,
it is no longer necessary for the governing body to pass a resolution certifying the elected position as requiring the hourly standard for IMRF participation. To participate in IMRF, non-governing body elected officials and the employer's Authorized Agent must file certain forms with IMRF certifying that the elected position meets the hourly standards for IMRF participation.
More information about these changes and the required documentation for IMRF will be provided on IMRF's website later in June.
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Summer and Early Fall Employer Workshops
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Register for an upcoming employer workshop in your area this summer or early fall! Employer workshops are open to Authorized Agents and other employer representatives who want to learn more about IMRF procedures and how to administer IMRF at your employer. Attendance is free.
Summer and early fall workshop locations and dates:
- Mount Carmel - Wednesday, July 10
- Burr Ridge - Tuesday, July 16
- Rock Falls - Thursday, August 1
- Northbrook - Tuesday, August 20
- Tinley Park - Tuesday, September 10
- Moline - Tuesday, September 10
- Mount Vernon - Tuesday, September 17
- Champaign - Wednesday, September 18
- Springfield - Tuesday, September 24
- Sandwich - Thursday, September 26
You can register for a workshop through
Employer Access or by calling the employer-only phone number,
1-800-728-7971. Each workshop is scheduled from 9 AM to 2 PM. A continental breakfast and light lunch will be served.
To see all workshop dates for 2019, visit our
Employer Workshops page. You can also review the presentation before your scheduled workshop by clicking the link in the promo on the right side of the page.
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2019 13th Payment Scheduled for July 8
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Each July, IMRF retirees receive a supplemental benefit payment, commonly known as the "13th Payment," a benefit provided by the Illinois Pension Code since 1993. The 13th Payment is paid entirely by employer contributions, with each employer contributing 0.62% of its IMRF member payroll to pay for this benefit.
This year, eligible retirees will receive their 13th Payment on
July 8, 2019. The amount will be
27.16% of their June benefit payment.
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May 2019 Board Meeting Highlights
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On Friday, May 17, 2019, the IMRF Board of Trustees:
- Received an update on IMRF's 2018 actuarial valuation.
- Approved plan for 2019 Employee Trustee election.
- Passed four Board Resolutions relating to member records, audit procedures, and certification of elected and appointed officials.
The next regularly scheduled Board meeting will be held Friday, August 23, at 9 AM at IMRF's Oak Brook office. You can view the 2019 IMRF Board of Trustees meeting calendar
here.
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2211 N. York Rd., Ste. 500, Oak Brook, IL 60523-2337 (Main Office)
3000 Professional Dr., Ste. 101, Springfield, IL 62703
Member-only Phone: 1-800-ASK-IMRF (275-4673)
Employer-only Phone: 1-800-728-7971
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