6.30 To Close an Account

4. Members changing IMRF employers

A termination of IMRF participation must be submitted for members leaving the employment of one IMRF employer to work for another IMRF employer.

These members are not entitled to a refund of their IMRF member contributions Members who participate in the Regular Plan contribute 4.50% of salary toward a future IMRF pension: 3.75% for the member and 0.75% for a surviving spouse pension. Members who participate in the SLEP plan contribute 7.50% of salary (on and after June 1, 2006) toward a future SLEP pension: 6.75% for the member and 0.75% for a surviving spouse pension. Before June 1, 2006, SLEP members contributed 6.50 percent of salary; 5.75 percent for the member and 0.75 percent for a surviving spouse pension. Members in the ECO plan contribute 7.50 of salary toward a future ECO pension: 6.75% for the member and 0.75% for a surviving spouse pension.. However, if a gap exists between the termination date for the first employer and the enrollment date for the second employer, the member may be eligible for a refund.

IMRF requires that the member terminate from the first employer and enroll with the second employer. This information is required because in addition to recording a member’s contributions and service, IMRF also records an employer’s liabilities for its members.

Without the appropriate termination and enrollment documents, IMRF would be unable to maintain accurate member and employer accounts.

If a member participating in Tier 1 terminates from one IMRF employer and enrolls with a second employer, that member will continue to participate in Tier 1. See Paragraph 6.05, To Open an Account.

Go to the Employer Access area to Terminate IMRF Participation

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