To help you understand and prepare for an audit, we have added information about IMRF’s
Internal Audit process to our website, including tools and resources.
Why does IMRF perform audits?
By performing audits, IMRF can assist employers in understanding and administering IMRF benefits according to the Illinois Pension Code. Performing audits is considered a best practice for public pension funds.
How are employers selected for audit?
Every December IMRF selects which employers will be audited in the following year. We consider several factors such as:
- The date of an employer’s last IMRF audit
- Field Representative territory
- Type and size of employer
The IMRF Board of Trustees’ Audit Committee approves the number of employer audits we perform each year. IMRF audits approximately 200 employers a year.
We are here to help you
We involve you at every stage of the audit, so you understand what is being done and why. The most successful employer audits happen when the employer and the IMRF Internal Audit team have a collaborative working relationship.