IMPORTANT REMINDER: Closing Date For 2016 Payroll; 2017 Maximum IMRF Wages; General Memo 664; IMRF's Video Series Grows

January 17, 2017


In This Issue: IMPORTANT REMINDER: Closing date for 2016 payroll 2017 maximum IMRF wages General Memo 664:2017 Board Officers IMRF's video series grows	Quick Links: Visit IMRF's website Log in to Employer Access Employer Digest email archive

IMPORTANT REMINDER:

Closing date for 2016 payroll

December 2016 wage reports were due to IMRF January 10, 2017.

It is important to contact Darrell Thomas, Wage Reports Specialist, immediately by phone: 630-472-9755, or email: [email protected] if you missed the deadline and have not submitted your employer's report.

2017 maximum IMRF wages

For 2017, IMRF Tier 1 member wages do not include compensation in excess of $270,000. Federal tax law limits the amount of wages that can be used for pension purposes. This limit applies to Tier 1 members who began IMRF participation in 1996 or after. Employers do not withhold IMRF contributions or report earnings for wages that exceed this limit.

IMRF Tier 2 member wages do not include compensation in excess of $112,408.42 for 2017. Employers should continue to report earnings over $112,408.42, but should not withhold IMRF contributions for wages exceeding this amount. IMRF will not accept contributions on wages over this amount for Tier 2 members.

General Memo 664:

2017 Board officers

At IMRF's December 16, 2016, Board of Trustees meeting, the Board elected the following new officers for 2017:

President: Sue Stanish
Vice President: Natalie Copper
Secretary: David Miller

Read more about the 2017 Board Officers and the 2016 Board election results in General Memo 664.

IMRF's video series grows

IMRF's Endorsed Insurance Program Video Series has grown to include three new releases outlining the endorsed health insurance plans available to retirees. Employers are encouraged to share these links with their employees and retirees.

The first new video provides an overview of Medicare Supplemental Plans and Prescription Drug Plans available to IMRF members through a program administered by IMRF's partner, Doyle Rowe, Limited. The additional releases in the series highlight Medicare Advantage Plans, and Dental, Vision, and Long-Term Care. Each video outlines the factors when considering insurance coverage, including: premiums, doctors, and coverage area.

The new videos, in addition to the complete Endorsed Insurance Video Library, may be viewed here.

IMRF's endorsed health insurance plans are available through a program administered by IMRF's partner, Doyle Rowe LTD. For more information about the endorsed health plans, IMRF retirees may directly contact the Doyle Rowe LTD Endorsed Plan Hotline, 1-800-564-7227, or visit Doyle Rowe LTD's website, dedicated to IMRF retirees:

https://www.doylerowe.com/IMRFEndorsedPlans.

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