7.23 C. Impact on Employer ERI Rate If Member Has Multiple IMRF Employers

If 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. participated with more than one IMRF employer during his or her IMRF career, the member’s current employer would need to adopt the ERI The IMRF Early Retirement Incentive. At the employer's option, a member can purchase up to five years of service credit. For each period of service credit purchased, the member's age is increased accordingly. The member must be at least age 50 and have at least 20 years of service credit (can include Reciprocal service). in order for the member to retire under it.

1. The current employer would bear the entire employer cost for the ERI because the current employer will benefit from reduced payroll/fringe benefit costs.

2. The member’s previous employer(s) would not be affected; they would not share the ERI cost nor would their IMRF rate be affected. This is true even if the previous employer adopts ERI. A member can retire under ERI only if his or her current employer adopts it.

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