On Monday January 29, we sent all IMRF Employers an email with an important checklist to prepare you for the New Employer Access system launching on March 4. The link to that email is here, in case you missed it.

The checklist includes information on:

• Refresher Training Available

• Filing Your January Wage Report

• Filing Your February Wage Report

• Preparing for Online Payment/Banking Changes

• Making Sure Your Current Employer Access Account is Active

• Reviewing Employees' Voluntary Additional Contribution Forms

• Completing Other IMRF Tasks Before February 21 at Noon

• Finding Answers to Your Questions in the New Member Access Learning Center

Expect Processing Delays and Longer Hold Times

IMRF anticipates temporary delays in customer service processing times, which is common during technology transitions of this magnitude. Our staff are advising IMRF members that it will temporarily take up to eight weeks to process applications. Please share this information with any employee who plans on applying for benefits.

We also anticipate longer hold times in the contact center during this transition and recommend using Secure Message in Employer Access whenever possible, to ask questions or submit information. We apologize for the inconvenience, and we appreciate your patience as IMRF converts to the new system.

IMRF Executive Director Brian Collins shares a video update on IMRF's 2023 investment return, funded status, and overall financial position.

In 2023, the IMRF investment portfolio net rate of return was approximately 13.2%. IMRF’s estimated actuarial funded status is about 97.7%. These estimates are based on preliminary data and are likely to change.

Employers can see their reserve balance on the Employer Retirement Reserve Statements now. Employers will receive 2025 preliminary rate notices in April.

Your employer's 2023 Employer Retirement Reserve Statements are now available in Employer Access in the "Display Annual Documents" section.

These statements may include: 



• Employer Retirement Reserve Statement for 2023 for your employer's regular reserve account
• ECO Retirement Reserve Statement if your employer participates in the Elected County Official (ECO) plan
• SLEP Retirement Reserve Statement and/or SLEP Enhancement Reserve Statement if your employer participates in the Sheriff's Law Enforcement Personnel (SLEP) plan
• ERI Retirement Reserve Statement if your employer offered the IMRF Early Retirement Incentive (ERI)

Questions?

If you have questions about these statements, please send a secure message in Employer Access.

Employer copies of 2023 Member Statements are now available in Employer Access in the "Display Annual Documents" section.

Please do not share these copies with your employees; they are provided as a reference for your employer. Use them to check for errors.

IMRF will notify your employees when their 2023 Personal Statement of Benefits (Member Statement) are available in the new Member Access. This annual statement provides members with their IMRF account activity for 2023, including past earnings, contributions, and employers. Members are encouraged to review this information each year to check accuracy and to resolve any problems early.

Reminder

Member Statements are not mailed to members. They are only available in Member Access.

Important New Legislative Requirement

Effective January 1, 2024, Illinois pension law requires all new IMRF Authorized Agents to complete an IMRF-provided training course within three months of appointment.

These online webinars are for Authorized Agents to learn about IMRF procedures and how to administer IMRF benefits. Register today!

This 2-part webinar series prepares IMRF Authorized Agents to perform common IMRF tasks. Each webinar stands alone, and you can attend them in either order.

Please Note: To receive a completion certificate, you must attend the 2 online sessions live. Watching a recording at a later date will not result in a certificate of completion.

All sessions run 9:00 AM to 10:30 AM.

February 2024

• Module 1: Introduction, Enrollment, Wage Reporting, and Termination – February 14
• Module 2: IMRF Benefits, Employer Rates, and Legislation – February 28

March 2024

• Module 1: Introduction, Enrollment, Wage Reporting, and Termination – March 13
• Module 2: IMRF Benefits, Employer Rates, and Legislation – March 27

April 2024

• Module 1: Introduction, Enrollment, Wage Reporting, and Termination – April 10
• Module 2: IMRF Benefits, Employer Rates, and Legislation – April 24