In 2024, IMRF employers will receive six key documents with information necessary for financial planning, accounting, and reporting purposes. The documents will be located in Employer Access.

• The Employer Reserve Account Statement (to release February 2024) provides accounting of your employer's IMRF assets for 2023. It reports the opening balance on January 1, 2023, the closing balance on December 31, 2023, investment earnings, interest charges, charges for employee retirements, and credits for contributions made to IMRF. 
• Employer Copy Member Statements (to release February 2024) are for your employer's records and provide summaries of your IMRF members' accounts for 2023. They include a breakdown of service credit (including the type of service), contributions, and wages for each month.
• The Preliminary Rate Notice (to release April 2024) provides your employer's estimated contribution rate for 2025. 
• Both the GASB 50 and GASB 68 statements (to release April 2024) provide the funded status of your IMRF plan(s) as of December 31, 2023. One or both of these statements are needed to complete your employer's financial statements. 
• The Final Rate Notice (to release November 2024) provides your employer's actual contribution rate for 2025.

On Friday, November 17, 2023, the IMRF Board of Trustees:

• Approved the 2024 IMRF employer contribution rates
• Reviewed the results of the Triennial Experience Study and approved resulting adjustments to actuarial assumptions
• Approved the participation of four new units of government

For More Information

You can read the full report in the November 2023 Board Meeting Highlights.

The next regularly scheduled Board meeting will be held Friday, December 15, at 9 AM.

Your employer's December 2023 wage report is due no later than Friday, January 26, 2024. You must submit your employer's final 2023 wage report and any adjustments by this date for IMRF to include the information in your employer's 2023 Member Statements of Account and 2023 GASB statements. These documents are available in early 2024. You should also resolve any outstanding pending wages by January 26.

Late Reports and Adjustments Could Make 2023 Documents Inaccurate

Wage reports and adjustments received after January 26, 2024, may not appear until your employer's 2024 Member Statements of Account or 2024 GASB statements. These documents aren't scheduled for distribution until early 2025.

Use Employer Access 

The most accurate way to submit member wages and contributions to IMRF is through Employer Access.

Please contact IMRF at 1-800-728-7971 (employer-only number) with questions about reporting wages to IMRF.

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.

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.

January 2024

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

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

Important New Legislation Requirement

Effective January 1, 2024, Illinois pension law requires all new IMRF Authorized Agents to complete an IMRF-provided training course within 3 months of appointment.