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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...
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.
Read
more about how this could affect you
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...
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...
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... |
