IMRF will host live webinar Employer Rate Meetings in May.

The three webinar dates are:

• Tuesday, May 9, 2023 at 10:00 AM
• Wednesday May 10, 2023 at 1:30 PM
• Thursday, May 11, 2023 at 9:00 AM

Click on your preferred date to register for the webinar. The meetings will be an hour long.

Topics covered

The Rate Meeting webinars will review the impact of year-end financial and actuarial data on IMRF, and the data's estimated impact on employers. IMRF Executive Director Brian Collins and Chief Financial Officer Mark Nannini will conduct the meetings.

Employers will be able to ask questions using a chat function during the calls.

Four new documents are now available in the "Display Annual Documents" section of Employer Access:

• Your employer's 2024 Preliminary Contribution Rate Notice provides your employer's estimated 2024 annual contribution rate for its IMRF plans, and is necessary for financial planning, accounting, and reporting purposes. 
• Your employer's 2022 Governmental Accounting Standards Board (GASB) 68 Report and 2022 Governmental Accounting Standards Board (GASB) 50 Footnote Disclosure Statement are also available.
• IMRF's SOC-1 Type 2 Report is needed by some IMRF employers for financial reporting purposes. In the report, independent auditors examined and verified the adequacy of IMRF's internal controls. 

Please provide these important documents to your employer's chief financial officer. 

Changes in work responsibilities and hours often affect whether positions qualify for IMRF. Every year, Authorized Agents must review and determine whether positions continue to meet or exceed the employer's hourly standard for IMRF participation. 

Expected versus actual hours 

If a person is employed in a qualifying position, the Authorized Agent must enroll that person in IMRF. To qualify for IMRF participation, a position must require at least 600 or 1,000 hours (depending on the employer's hourly standard) over the next 12 months. To determine this, measure the expected hours the position requires against the employer's hourly standard; the actual hours worked may be more or less. While conducting this measurement: 

• Pay attention to part-time, temporary, and seasonal employees since their hours can change quickly. 
• Be mindful of those who have more than one position with the same employer. When determining IMRF participation, these employees’ hours are combined; these combined hours may qualify the employee for IMRF participation, although the individual positions may not qualify.

Steps to reclassify 

If the requirements of a position change and the position requires reclassification: 

1. Determine if the position will continue to require the newly increased or decreased number of hours. 
2. Log in to Employer Access to complete and submit either an enrollment or termination notice to IMRF if the change is permanent. 

More information

To help in evaluating positions, download and complete the “Should this employee be enrolled in IMRF?” checklist. Keep the checklist in the employee's file for reference. Also, review Section 3.65A of IMRF's AA Manual for additional information. Or call IMRF using the employer-only number 1-800-728-7971 with questions.