Retirement health savings plans are employer-sponsored health benefit savings vehicles that allow pre-tax savings for the cost of medical expenses (health insurance premiums, co-pays, prescription costs, etc.) after retirement. These plans are funded in a variety of ways.
Compensation directed into a retirement health savings plan is not included as IMRF earnings, and therefore not reportable to IMRF, unless the employer’s governing body adopts a resolution making that compensation reportable.
If the employer wants to report to IMRF the compensation directed into the retirement health savings plan, its governing body would adopt a resolution (IMRF Suggested Form Resolution, "Resolution to Include Compensation Directed into a Retirement Health Savings Plan as IMRF Earnings").
To use IMRF’s suggested form of resolution, send a secure message to request a “Resolution to Include Compensation Directed into a Retirement Health Savings Plan as IMRF Earnings” form. If unable to send a secure message, contact IMRF through the employer-only phone number at 1-800-728-7971.