Accelerated Payment Estimator

for IMRF Employers

Employers are required to pay IMRF for the additional cost of a pension resulting from certain salary increases immediately upon a member's retirement. These payments are called “Accelerated Payments” (AP). The AP is due when the member retires, not when the salary increases.

Please keep in mind:

  1. The IMRF AP is not a penalty. In an AP scenario, the cost of the member's retirement is greater than the employer contributions made over the member's working career. This creates a shortage in the employer reserve account. The employer's AP payment replenishes the employer reserve to fund the shortage created when the member retires.
  2. The exemption the employer may receive from an AP invoice does not relieve the employer from paying the full cost of the member's retirement. The AP exemption only allows the employer to pay the amount over a future period through their employer contribution rates instead of funding the retirement over the member's working career.

To help you estimate your future cost of a salary increase, we have created an Excel spreadsheet.

Who should use this spreadsheet?

If you are planning to provide a member with salary increase of more than 6% (or 1.5 times the increase in the CPI-Urban as of the previous September, whichever is greater), you can use this spreadsheet to estimate future cost (payable when the member retires).

This spreadsheet has been corrected since it was first made available in January 2012. If you previously calculated an estimated AP using this spreadsheet, you should download the revised spreadsheet and recalculate the amount. The previous spreadsheet provided you with incorrect results.

Estimate your future Accelerated Payment

You can download an Excel spreadsheet (Updated 11/22/13) to estimate the amount of any AP:

To calculate the AP you will need to enter the member's:

Additional instructions are included in the "Instructions" tab of the spreadsheet.

Questions? Send IMRF a secure message.

Note: The AP Estimator spreadsheet has certain limitations and cannot always produce an accurate estimate of an Accelerated Payment. Some of the reasons for these limitations are listed in the spreadsheet instructions. The accuracy of the estimate depends on the accuracy of the data entered. This spreadsheet produces estimates—the actual AP will be determined when a member retires and will be based on the IMRF records for the retiring member. In all cases, the requirements of the Illinois Pension Code will apply.