2008 Legislative Agenda

The Board's the legislative proposals (made in response to one of IMRF’s 2005-2007 operational objectives, Advocate Modernization of Benefit Structure) have been introduced as a bills in the Senate:

• Make the Annuitant Trustee a voting member of the Board
  Senate Bill 1957



• Paying interest (amount determined by the Board) on separation refunds (currently interest is not paid on separation refunds)
  Senate Bill 1958



• Stabilize the Supplemental Benefit payment (13th payment) (the amount varies and has been decreasing; it is based on a formula that includes the number of eligible retirees which has been increasing and the amount of wages reported in June which are increasing more slowly)
  Senate Bill 1959
  



• Five-year vesting (currently eight years)
  Senate Bill 1960