IMRF's Financial Update; ILPEx Conference Taking Place February 22; General Memo 672; January 2018 Employer Reminder

January 31, 2018


In This Issue: IMRF's Financial Update ILPEx Conference taking place February 22 General Memo 672: Cash Payments in Lieu of or Related to Healthcare Benefits January 2018 Employer Reminder: 2018 employer rates and maximum IMRF wages	Quick Links: Visit IMRF's website Log in to Employer Access Employer Digest email archive

IMRF's Financial Update

IMRF has released a new video featuring Executive Director Brian Collins. In the video, Collins discusses IMRF's financial gains in 2017 and the organization's overall financial picture.

View the video here.

ILPEx Conference
taking place February 22

Is your employer looking for an approach to further improve your overall effectiveness? If yes, consider having a representative attend the ILPEx Conference on Enterprise Excellence scheduled for Thursday, February 22, 2018 at Hamburger University in Oak Brook. The conference will begin at 8:30 AM. IMRF employers may follow this link to register for the ILPEx Conference on Enterprise Excellence.

ILPEx's mission is to advance Illinois organizations' capability and knowledge of performance excellence by delivering consultation, instruction, and assessments within the framework of the Baldrige Criteria for Performance Excellence.

The Conference on Enterprise Excellence highlights recognized leaders from a variety of industries, who have led their teams and organizations to high performance in the areas of leadership, strategy, customer engagement, operations, workforce, and technology. Learn more about the conference here.

The ILPEx Recognition Program is Illinois' Baldrige Performance Excellence Program affiliate. When an organization like IMRF submits an application, ILPEx takes a close look at the organization based on the Baldrige Criteria. When its evaluation is complete, ILPEx provides the organization with a feedback report identifying strengths and opportunities for improvement.

A few of the many improvements IMRF implemented as a result of feedback from ILPEx include:

A customer feedback program so it could better listen to its members and employers and make improvements to their customer service experience.
The Leadership Scorecard, which summarizes IMRF's progress towards achieving the goals established in its Strategic Plan.
The IAPI (Identify, Analyze, Prioritize, Implement) process, a method that allows IMRF staff to solve problems and make decisions analytically.
Benchmarking tools to measure IMRF's success in key result areas.

In 2017, IMRF submitted our fourth ILPEx application and received the 2017 ILPEx Gold Award for Achievement of Excellence. Read more about this recognition on IMRF's website.

General Memo 672:

Cash Payments in Lieu of or Related to Healthcare Benefits

On Friday, January 19, IMRF released General Memo 672. This memo explains Board Resolution 2017-12-17, which gives employers the option to include certain cash payments made as an alternative to employer-provided health insurance as reportable earnings to IMRF. A list of "Frequently Asked Questions" was also released with the memo.

IMRF employers are encouraged to review General Memo 672 and the FAQs here.

January 2018 Employer Reminder:

2018 employer rates and maximum IMRF wages

In November 2017, IMRF provided a Final Rate Notice for 2018 to all Authorized Agents. This document, located in the "Annual Documentation" section of Employer Access, details your employer's 2018 contribution rate.

January is the first month employers will calculate employer contributions using their 2018 employer rate. It is also an appropriate month to review maximum IMRF wages, which vary by the applicable Tier.

Read more about 2018 employer rates and maximum IMRF wages in the January 2018 Employer Reminder.

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IMRF

2211 York Rd., Ste. 500

Oak Brook, IL 60523-2337

Member-only Phone: 1-800-ASK-IMRF (275-4673)

Employer-only Phone: 1-800-728-7971

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