6.50 A. Personal Statement of Benefits (Exhibit 6A)

Each year, IMRF issues annual statements that report the transactions and service credits accumulated by each 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.. These statements report the service credit and contributions accumulated under each governmental unit. Members can view their annual Personal Statement of Benefits via the Document Archive on their online Member Access account.

A member can receive only one month of service credit for one calendar month, regardless of the number of governmental units employing the member. For a discussion of concurrent service, refer to 6.40 C. 2. Concurrent Service.

The annual Personal Statement of Benefits provides:

• Total service credit by plan (e.g., Regular, SLEP , ECO )

• Total 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.

• Member contributions made under each employer

The statement also provides estimates of the member’s IMRF benefits:

• Retirement benefit (if the member has at least 12 months of service) and the cost to purchase an annuity that would equal the amount of lifetime pension payments

• Disability benefit

• Death benefit

• Separation refund (if the member is not vested)

Also, if a member’s IMRF record indicates that he or she has service credit in a reciprocal retirement system, the statement provides the name of the system(s) and the years and months of service reported by the system.

Members can review their IMRF record at anytime via the secure Member Access area of the IMRF website, www.imrf.org. Members should contact IMRF Member Services if they have questions about accessing their IMRF Member Access account.

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