| Topic: | IMRF Board |
| Subtopic: | Legislation: Select Groups |
| Date: | 10/28/2005 |
| Status: | Active |
Statement of Policy
Legislation For Select Groups
The Illinois Municipal Retirement Fund currently has more than 120,000 participating members, employed by more than 2,500 participating employers.
The Board of Trustees of the Illinois Municipal Retirement Fund has both a statutory and fiduciary duty to all its members and their beneficiaries to provide a sound, efficient and equitable benefit system.
Various categories of IMRF participating members seek, from time to time, special legislation which would enhance the benefits paid to small groups of IMRF members.
Legislation which enhances the benefits of select participating groups diverts monies away from benefit enhancements which should be available to all participating members.
Legislation which enhances the benefits of select participating groups may violate IRS nondiscrimination rules for qualified pension plans.
The Board of Trustees of IMRF is opposed to all legislative proposals which would increase benefits for select categories of its members without making corresponding benefits available to all its members.