Employer Digest

Friday, September 8, 2023

Welcome to Employer Digest, your monthly source for IMRF news and

information to help you stay connected with IMRF.

Required Employer Access Training Webinar Additional Spots Added for All Dates

Only 3 weeks left to complete your essential Employer Access training webinar. Additional spots have been added to training dates that were previously marked as full. Register today!

IMRF's newly enhanced Employer Access secure website is targeted to launch in October. This new version is designed to streamline your day-to-day business interactions with IMRF.

Essential Training is Required

In preparation for the new Employer Access and enhanced wage reporting system, IMRF is requiring all participating units of government to register for the mandatory webinar training sessions scheduled for the month of September. This training will ensure that your organization is ready to navigate the changes effectively.

Who Needs to Attend?

All IMRF Authorized Agents and any other staff involved in administering IMRF within your local unit of government are required to complete this training.

Potential Consequences of Not Attending Training

Without proper training, your unit of government could find itself unprepared to navigate the new website’s functionalities, potentially leading to:

Delinquency in submitting required information and payments
Financial penalties
Inaccuracies in employer and member accounts
Delays in processing member benefit claims

To secure your organization’s readiness for this major change, register today!

For additional information or questions, call IMRF's Employer Contact Center at 1-800-728-7971.

Last Call for Executive Trustee Nominations Accepted through September 15

Just one more week to submit a nominating petition for Executive Trustee.

This fall, IMRF employers will elect one Executive Trustee for a five-year term of office, from January 1, 2024 through December 31, 2028.

An employee can be nominated for Executive Trustee if the employee:

Is employed by a participating governmental unit as chief executive officer, chief finance officer, or other officer, executive, or department head.

Is an active and vested IMRF member (not including reciprocal service) as of December 31, 2023.

Gains the nomination of at least three IMRF employers, each of whom must submit a nominating petition to IMRF.

Learn more about nominating an employee for Executive Trustee here.

Also in November, IMRF active members will elect one Employee Trustee for a two-year term of office that will run from January 1, 2024 through December 31, 2025. Learn more about running for Employee Trustee here.

IMRF Accelerated Payments

Two New Exemptions Have Been Added

A recent change to Illinois Pension Code has added more exemptions to what IMRF calls the Accelerated Payment, which requires employers to pay the employer portion of certain pension cost increases on a faster schedule than the remaining portion.

When applying for an exemption from accelerated payments using IMRF form 7.20, there are now two additional exemptions you can choose from:

Increase due to member returning to their regular schedule after a period of reduced hours.

Payments required to be made under state or federal law or by court mandate.

Visit this IMRF webpage for the full list of exemptions and to read more about Accelerated Payments.

Accelerated Payments change the timing of the liability, not the amount.

August 2023 Board Meeting Highlights

The IMRF Board of Directors met on August 25, 2023. Some highlights from their meeting were:

Results from CEM Benchmarking study were presented, which place IMRF near the top in terms of customer service, while also being one of the lowest-cost pensions per member in North America.

Updates on the implementation of IMRF's Strategic Plan objectives were presented by staff.

Announcement was shared that three new employers have joined IMRF.

For more information

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

The next meeting of the full IMRF Board of Trustees will be held Friday, November 17. You can view the 2023 Board of Trustees meeting calendar here.

Updated Authorized Agent Webinars

Begin in November

Updated Authorized Agent Webinar modules will be available starting in November, to support the new legislation requirement that takes effect on January 1, 2024, requiring Authorized Agents to complete training within 3 months of beginning their role.

These online webinars are provided for Authorized Agents to learn more about IMRF procedures and how to administer IMRF benefits.

For any new Authorized Agents requiring basic training prior to November, please call 1-800-728-7971 to request training from an IMRF Employer Representative.

Visit IMRF's website

Employer Access

Employer Digest Archive

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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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