Fundamentals Newsletter

Award-Winning Chief Investment Officer Hired to Manage IMRF's Investments

Earlier this month, IMRF announced that Angela Miller-May will be the organization’s next Chief Investment Officer (CIO). Her start date is August 16.

Miller-May joins IMRF – Illinois’ best-funded statewide public pension – from the Chicago Teachers’ Pension Fund (CTPF), where she serves as the organization’s CIO.

IMRF Executive Director Brian Collins said that all IMRF stakeholders should be encouraged by Miller-May’s hiring.

“Angela is well-respected and recognized across the state and the nation as a very keen financial mind, with a great track record of investing success over the last decade,” Collins said. “Our members, employers, and taxpayers should be excited about someone who is going to be an outstanding steward of their money.”

To learn more about Miller-May’s professional background, click here.

IMRF's VAC Program Helps You Build Needed Supplemental Retirement Savings

IMRF's Voluntary Additional Contributions (VAC) program is a unique and very effective savings vehicle available to IMRF members only, to help supplement your retirement savings. The VAC program is low-risk and offers higher interest rates than many other retirement savings options.

With VAC, you can elect to save between 1% and 10% of your reported earnings in an account that currently earns 7.25% interest. The interest is credited at the end of the year, based on the opening balance at the beginning of the year. Contributions are after-tax and do not reduce your taxable income as in a 457 or 403(b) plan.

IMRF members who begin contributing under the age of 40 will benefit significantly from the compounding interest on their contributions, which will add up to substantial savings by the time of their retirement. VAC is a great way to build the personal savings members will need to supplement their pensions in retirement.

For more information on IMRF Voluntary Additional Contributions, click here.

Additional Webinar Dates Available for 2021!

Your Glass is Half Full: Understanding Your IMRF Benefits

An IMRF Field Representative will explain how your pension is funded, your benefits as an IMRF member, and the importance of having more than one savings vehicle as you prepare for your eventual retirement.

Upcoming webinar dates:

Tuesday, August 31, 12 PM - 1 PM

Tuesday, September 28, 12 PM - 1 PM

Tuesday, October 7, 12 PM - 1 PM

Tuesday, November 18, 12 PM - 1 PM

Tuesday, December 7, 12 PM - 1 PM

For more information, or to register for a Your Glass is Half Full Workshop webinar, click here.

Member Access - How To...

Apply to Reinstate Your IMRF Service Credit

Did you know you can apply online in Member Access to reinstate past service credit? If you stopped working for your IMRF employer and took a refund of your contributions, you may redeposit those withdrawn contributions plus interest and reinstate your years of service credit.

To be eligible for reinstatement of refunded service credit you must meet both of these criteria:

You must be currently participating in IMRF or another retirement system covered by the Illinois Retirement Systems Reciprocal Act.

You must have completed at least two years of contributing service under IMRF or another retirement system covered by the Illinois Retirement Systems Reciprocal Act following the date of your last refund.

You can complete an Application for Reinstatement of Service Credit in Member Access. Click on the link below. You will be prompted to log into your Member Access account. After logging in, you will see a list of Secure Online Forms. At the bottom of the list, choose Apply for Reinstatement of IMRF Service Credit.

Click here to apply for reinstatement of service credit in Member Access.