On August 25, 2017, the Governor signed Senate Bill 701 into law, effective immediately. Now Public Act 100-411, this bill excludes vehicle allowances from the definition of reportable wages for members who first begin IMRF participation on or after the effective date. **Vacation payouts are included as an exemption from the accelerated payment calculation, but only if the payment was made in the final three months of the FRE period.
To better inform and assist employers in complying with this new legislation, IMRF has:
**Editor's Note: This text has been modified since this issue's original distribution.