6.20 E. Revocation of Election to Participate in Elected County Official Plan

A member An employee who works in a position not excluded from IMRF coverage and whose position meets the annual hourly standard for IMRF coverage. For the purposes of an Authorized Agent submitting a petition or casting a ballot in an executive trustee election, an active member also includes an employee receiving an IMRF pension and working in position that does not qualify for IMRF participation or one that provides the employee the option of participating in IMRF, e.g., elected office. who elected to participate in either Original or Revised ECO can revoke that election by completing IMRF Form entitled, "Revocation of Election to Participate in Elected County Official Plan."

To access this form, members can visit the Member Access area on IMRF's website (www.imrf.org).

The member will freeze his or her ECO final rate of earnings A member's Final Rate of Earnings (FRE) is the salary used to calculate the amount of retirement benefits. Under the Regular IMRF and SLEP plans: Final rate of earnings (FRE) are a member's highest total earnings during any 48 consecutive months within the member's last 10 years of IMRF service divided by 48. Usually, this is the average of the last 48 months of service. However, the earnings considered for each of the last three months cannot be more than 25 percent greater than the highest earnings in any of the first 45 months of the 48 consecutive months. Under the original Elected County Official plan: Under the original ECO plan, a member's FRE is the annualized salary payable on the last day of participation in the ECO plan divided by 12. The ECO monthly FRE does not include any lump sum payments for vacation, sick leave, overtime, personal leave, etc. The ECO monthly FRE does include the annual stipend. However, the stipend is "annualized," e.g., an annual stipend of $2,500 increases the monthly FRE by $208.33. Under the revised Elected County Official plan: Under the revised ECO plan, a member's FRE is the average of the highest consecutive 48 months of ECO service in the last 10 years held in a specific office with the same county. A separate ECO FRE is calculated for each elected county position held in the same county. and continue to participate in Regular or SLEP (as appropriate). If the member chooses to stop participating in the ECO plan, the decision is irrevocable. He or she may not re-enroll in ECO at a later date. The member will then participate in the Regular or SLEP plan, as appropriate.

1. If the member joined ECO before January 26, 2000 (Original ECO)

The revocation is effective on the last day of the month, e.g., if the form is signed on March 2nd, the revocation is effective on March 31st.

After filing the form, the employer A unit of government that joins IMRF. should deduct the appropriate member IMRF contributions (Regular IMRF or SLEP) from the member’s payroll earnings beginning with next month’s Monthly Deposit Report (e.g., if Form 6.28 is dated March, deduct Regular or SLEP contributions starting in April).

2. If the member joined ECO on or after January 26, 2000 (Revised ECO, Tier 1, and Tier 2)

The revocation is effective on the date the form is signed.

The employer would deduct the appropriate member IMRF contributions (Regular or SLEP) from the member’s payroll earnings beginning with the next payroll.

Because the member’s IMRF contribution changes with the next payroll, the employer may need to report the member’s wages and contributions under two plans (Regular or SLEP and ECO) for the next month’s Monthly Deposit Report.

Wages paid before Form "Revocation of Election to Participate in Elected County Official Plan" was signed will be reported under ECO; wages paid after this Form was signed will be reported under Regular or SLEP.

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