Once IMRF receives a member's final wages (usually one month after retirement), an ERI invoice will be forwarded to the employer detailing the member's ERI cost.
If the employer will pay the member a lump sum payment for sick, vacation, and/or personal time, the employer must submit the net payment (gross payment less taxes, IMRF contributions, etc.) to IMRF via First Data Government Solutions EFT pay-by-phone or pay online system and identify the payment as member ERI cost.
If the member's net payment for sick, vacation, and/or personal time is greater than the member's ERI cost, the employer would pay IMRF via First Data Government Solutions EFT an amount required to pay the member's cost. The employer would pay the member any remaining balance of the net payment.
After receiving (any) payments from the member (or 30 days from the date of the member invoice), if a balance for the member's cost remains, IMRF will begin deducting the balance from the member's pension in 24 equal installments.