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Employer Phase-in Rate webinars successful, recorded presentation, Questions and Answers now available

May 5, 2009

More than 600 employers attended IMRF's Update webinars on April 29 and 30.

You can view the recorded presentation and download the questions and answers from both sessions.

Read more...


Retirees: Will the new tax withholding
tables affect you?

April 2, 2009

The Economic Stimulus package changed the federal income tax withholding tables (effective April 1, 2009). The package includes a credit on “"earned income.” Many working individuals will see a small increase in their paychecks when the new lower federal income tax withholding tables go into effect.

However, the Internal Revenue Service’s (IRS) definition of “earned income” does not include interest, dividend, or pension payments. Therefore, IMRF retirees may not be eligible for this credit. However, IMRF is required to use the new lower income tax withholding tables.


What is $1 worth today?

March 9, 2009

IMRF believes a dollar invested in a defined benefit pension—like IMRF—is an investment for the future. Where does the money come from to pay those benefits? On average, the taxpayer contributes less than 20 cents for every dollar paid in benefits. Members contribute a portion, but historically investment returns are the major contributor.

And to show how a dollar invested grows to provide funding for pension, you can view a chart that illustrates the value of a dollar at the end of 2008 if IMRF invested it in 1980.

Read more...


IMRF Board approves plan to moderate 2010 employer rate increases

March 3, 2009

The estimated 2008 investment return for IMRF is a negative 24.8%. This return translates into investment loss of approximately $6.1 billion. If IMRF were to follow its normal rate setting procedures, the magnitude of this loss would dramatically impact employer contribution rates for 2010.

To moderate the impact of the 2008 investment losses on employers, at its February meeting, the IMRF Board modified two actuarial techniques and approved a phase-in plan.

Read more...


What if the dependable disappeared?

Local Government Week —March 1 through 7

February 26, 2009

Pretend for a moment that you wake up tomorrow morning and when you turn on your faucet—nothing happens. What if all the street lights went dark? What if local schools, libraries and parks disappeared? What if potholes today became craters next winter, rendering roads virtually impassable?

Well, you’d be living in a world without local government.

Read more...


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IMRF Online provides a brief summary of IMRF benefits and the adminstration of those benefits. IMRF members' and employers' rights and obligations are governed by Article 7 of the Illinois Pension Code. Statements in these publications are general, and the Illinois state law governing IMRF is complex and specific. If a conflict arises between information in these publications and the law, all decisions are based on the law.

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Page last updated by JC on 05/28/09