Friday, July 12, 2019
Welcome to Employer Digest, your monthly source for IMRF news and information to help you stay connected with IMRF.
IMRF Issues GM 683 On Changes To Certification Requirements for Elected/Appointed Officials
In May, the IMRF Board of Trustees adopted IMRF Board Resolution 2019-05-09(d), which changes the certification requirements for members of governing bodies and other elected positions in two ways:

  1. Recertification of governing body positions is no longer required every two years and
  2. Non-governing body elected officials no longer require certification by resolution.

Deadline To Select 2020 Phase-In Rate Is August 30
This matter is time sensitive. Please share this information with your unit of government's chief financial officer/business manager.

IMRF employers have until August 30, 2019, to select the optional phase-in rate for 2020 employer contributions. If IMRF does not hear back from you by the deadline, your employer will pay the Actuarial Determined Contribution (ADC ) rate in 2020.

You can find your employer's 2020 ADC and phase-in rates on its Preliminary Contribution Rate Notice in Employer Access.

More information about how to select the rate and the options available for employers can be found at www.imrf.org/2020-preliminary-employer-rates.

IMRF encourages employers with the financial capability to contribute at the ADC rate in 2020.

For questions about your employer's Preliminary Contribution Rate Notice, please send IMRF a secure message, or contact Employer/Member Data Unit Supervisor Dionne Green at 630-706-4234 or Financial Relations Manager Audrey Brown-Ryce at 630-706-4246.
Some Employers Receive Corrected GASB 68 
In April, IMRF issued all employers GASB Statement No. 68 Employer Reporting Accounting Schedules. Last month, IMRF discovered that some of those schedules contained inaccurate information. For impacted employers, corrected documents are now available in Employer Access.

If you are an impacted employer, your employees with Employer Access credentials received a notification email on July 1. They need to:

  • log into Employer Access
  • download the corrected document(s)
  • provide the document(s) to the organization's chief financial officer

If you are not an impacted employer, your employees with Employer Access credentials did not receive a notification email, and no action is required.

2019 Employee Trustee Election
This fall, active members of IMRF will elect one Employee Trustee for a five-year term of office, from January 1, 2020, through December 31, 2024.

You can run for Employee Trustee if you are:

  • an active member currently participating in IMRF
  • vested in IMRF (eight years for Tier 1 members or 10 years for Tier 2 members)
Please Complete Employer Survey By July 14
Earlier this week, you received an email with a link to complete the next employer survey. Please complete the survey by July 14. The survey asks you about your opinion on this newsletter: Employer Digest. Completing the survey should take no more than five minutes.

Thank you to everyone who completed our last survey, which asked about your experience with the accelerated payment process. Your feedback plays an important role in helping us improve.
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