Some earnings are not required to be reported, but are optional on the part of the employer and require governing body action to become reportable. The following types of earnings should be subtracted from wages reported to IMRF if no resolution has been passed.
- Suggested resolution to include compensation paid under an Internal Revenue Code Section 125 Plan as IMRF earnings
- Suggested resolution to include compensation directed into a Retirement Health Savings Plan as IMRF earnings
- Suggested Resolution to Include Taxable Allowances as IMRF Earnings
- Suggested Resolution to Include Cash Payments Related to Health Insurance as IMRF Earnings
Compensation paid under an Internal Revenue Code section 125 plan or compensation directed into a premium conversion plan or flexible spending account by action of the governing body.
All compensation directed into a Retirement Health Savings Plan.
Taxable expense allowances.
Cash payments in lieu of or related to healthcare benefits.