Register today for IMRF's last 2022 Employer Rate webinar on Wednesday, May 18, at 10:00 AM. Authorized Agents, chief financial officers, governing body members, other officials, and interested parties from your employer are encouraged to attend. Please click here to register for the webinar.

Information to be covered

The webinar offers an online opportunity for employers to learn about the impact of year-end financial and actuarial data on IMRF, and the data's estimated impact on individual employers. IMRF Executive Director Brian Collins and Chief Financial Officer Mark Nannini will conduct the webinar.

IMRF's 2021 Annual Comprehensive Financial Report (ACFR) and associated documents will be available on IMRF's website by June 1. Your auditor will need these documents if your employer follows Generally Accepted Accounting Principles (GAAP) in its financial reporting.

You will find the 2021 ACFR and Detailed List of 2021 Investments on the Annual Financial Reports page.

Additional documents available 

The following documents will be located in the Display Annual Documents section of Employer Access:

• 2021 Schedule of Changes in Fiduciary Net Position by Employer
• 2021 Reconciliation Adjustments Schedule
• 2021 IMRF Census Data Attestation Report

The 2021 Actuarial Valuation and 2021 Gain/Loss Analysis are now located on the Reports for Employers page.

If you have any questions about IMRF's annual reports, call the employer-only number: 1-800-728-7971.

The Government Finance Officers Association (GFOA) has awarded IMRF its prestigious "Triple Crown" Award for the second year in a row.

This award recognizes governments that have received GFOA's Certificate of Achievement for Excellence in Financial Reporting for the Annual Comprehensive Financial Report (ACFR), the Popular Annual Financial Reporting Award (PAFR), and the Distinguished Budget Presentation Award for Fiscal Year 2019.

You can review these historical documents on IMRF’s website or find the most recent versions here:

• ACFR
• PAFR
• Budget 

Transparency in financial reporting

IMRF has made a long-term commitment to transparency in financial reporting. The organization’s ACFR has received GFOA’s Certificate of Excellence in Financial Reporting 47 separate years. That places IMRF on GFOA’s top ten list of all-time award recipients. 

What is an Accelerated Payment?

Certain increases in reported earnings during a member's Final Rate of Earnings (FRE) period result in additional pension costs. Employers are required to pay this additional cost immediately upon the member’s retirement. This payment is called an Accelerated Payment.

The IMRF Accelerated Payment is not a penalty

If the cost of a member's retirement is greater than the employer contributions made over the member's working career, it creates a shortage in the employer reserve account.

If there is an Accelerated Payment due, it replenishes the employer reserve more quickly to fund the shortage created when the member retires.

The total cost to the employer does not change. Only the payment timing changes.

Accelerated Payment Estimator

To help you estimate your future cost of an increase in reported earnings, we have created two Excel spreadsheets, available in the page sidebar.

We offer these online webinars for Authorized Agents to learn more about IMRF procedures and how to administer IMRF. Register today!

• Module 1: Introduction, Enrollment and Termination – will be offered again in the future 
• Module 2: Wage Reporting – June 14, 2022 at 9:00 AM 
• Module 3: IMRF Benefits – July 12, 2022 at 9:00 AM 
• Module 4: Employer Rates and Legislation – August 9, 2022 at 9:00 AM

Webinar structure

This 4-part webinar series prepares IMRF Authorized Agents to perform common IMRF tasks. You are unable to cancel registration from any single module, but attendance is not mandatory at all four.

Together, these four 1-hour webinars cover the topics included in the former one-day workshop. Each webinar stands alone, and you can attend them in any order.