An employer cannot adopt later ERI programs until the cost of the previous ERI is paid in full. If an employer needs to implement a second ERI program before the cost of the first program has been amortized, the employer should contact IMRF for payoff information.
The lump sum payment should be submitted to IMRF via First Data Government Solutions Electronic Funds Transfer (EFT) pay-by-phone or pay online system. The First Data Government Solutions EFT systems allow you to identify the payment as employer ERI cost. Learn more about IMRF EFT Payment System.
An ERI cost estimate must be prepared before any subsequent ERI programs can be adopted.