Minimum Monthly Contribution is the amount employers are required to send IMRF to pay for any unfunded liability they have with IMRF. This ensures that all employer contributions needed to pay past and current member benefits are on file with IMRF.
Who Pays Minimum Monthly Contributions?
- Employers who do not have any employees.
- Employers with employees (active payroll) but whose wage report employer contribution is less than the employer Minimum Monthly Contribution
How much is the Minimum Monthly Contribution?
The amount of the Minimum Monthly Contribution varies based on the unfunded liability of the employer.
If the employer has an active payroll and the wage report employer contribution for the month exceeds the Minimum Monthly Contribution, then no additional Minimum Monthly Contribution is due.
If an employer has an active payroll and their employer contribution is less than the Minimum Monthly Contribution, then they will be invoiced for the difference between their monthly minimum contribution and their payroll.
When is the Minimum Monthly Contribution Due?
Minimum Monthly contributions are due on the last day of each month and will be invoiced on the 21st of the month.
Learn more about Minimum Monthly Contributions here.