Staff provides status update on technology project
IMRF staff updated the Board on the status of IMRF’s project to replace its secure websites and the behind-the-scenes technology that IMRF staff uses to administer the pension system.
While there have been transition challenges since converting to the new systems on March 4, staff said that the organization is making progress and improving service levels. Staff also highlighted certain strategic milestones since the transition, which included successfully implementing the new technologies on March 4, delivering the April 1 benefit payment on time and in full, and thousands of employers and members creating new secure site accounts during April.
To learn more about the project, view this video from IMRF Executive Director Brian Collins.
Board discusses IMRF endorsed insurance program
At its November meeting, the Board requested a review of the endorsed insurance program for IMRF retirees. IMRF benefits do not include health insurance. The intent of IMRF’s program is to inform our members about some of the insurance options that have been endorsed by the IMRF Board. As a part of that program, an insurance broker annually secures the insurance offerings and administers enrollments.
After hearing additional details and discussed different options, the Board directed staff to develop a plan to periodically issue a Request for Proposals (RFP) for the insurance broker that administers the program. The current insurance broker would be eligible to respond to the RFP. IMRF staff will present an implementation plan for approval at a future board meeting.
New unit of government joins IMRF
The Board approved the participation of the following new employer:
- Sugar Grove Public Library District
Next Board meeting
The next regularly scheduled board meeting will be held Friday, May 31, 2024 at 9 AM at IMRF's Oak Brook office.