Voluntary Additional Contributions

for Tier 1 SLEP Plan Members
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IMRF’s Voluntary Additional Contribution (VAC) program is an easy way to help you save additional retirement income. Voluntary Additional Contributions:

If you reach 40 years of service and choose to stop making IMRF contributions, you must also stop making Voluntary Additional Contributions.

How to Start Making Voluntary Additional Contributions

To start making VAC contributions:

The VAC program is available to all IMRF members -- your employer must allow you to participate in this program.

Your VA contributions:

Can be left on deposit if: Can be withdrawn if: MUST be withdrawn if:
  • You are still participating in IMRF and still making VAC contributions
  • You are still participating in IMRF but you stop making contributions to your VAC account
  • You stop working for your IMRF employer but you leave your regular IMRF contributions on deposit
  • You are still participating in IMRF, even if you continue making future contributions to your VAC account.
  • You stop working for your IMRF employer and you leave your regular IMRF contributions on deposit.
  • You stop working for your IMRF employer and request a separation refund of your regular IMRF contributions.
  • You retire from IMRF. If your VAC balance is at least $4,500, you can choose a monthly annuity instead of a lump sum refund.

Requesting Voluntary Additional Contribution Refunds

You can take a refund of your VAC at any time. You must withdraw all of the contributions you made—you cannot take a partial refund. Your employment status determines when you receive your interest.

If you are still working for an IMRF employer:

If you no longer work for an IMRF employer:

To request a refund of your VAC, return a completed "Request For Refund of Voluntary Additional Contributions" form to IMRF.

How IMRF Credits VAC Interest

VAC interest is credited differently from a traditional savings account:

Voluntary Additional Contribution Interest Example
Year 1 January 1 Opening Balance
$0.00
VA Contributions made during Year 1
$400.00
Interest credited on Year 1 December 31 based upon 
January 1 opening balance of $0 x 7.50%
$0.00
Year 2 January 1 Opening Balance
$400.00
VA Contributions made during Year 2
$500.00
Interest credited on Year 2 December 31, based upon 
January 1 opening balance of $400 x 7.50%
$30.00
Year 3 January 1 Opening Balance
$930.00
VA contributions made during Year 3
$600.00
Interest credited on Year 3 December 31, based upon 
January 1 opening balance of $930 x 7.50%
$69.75
Year 4 January 1 Opening Balance
$1,599.75

Retiring with Voluntary Additional Contributions

If you leave your VAC on deposit until you retire from IMRF, at retirement you may choose to receive your Voluntary Additional Contributions as either:

You can log in to your secure Member Access account and create a pension estimate to review lump sum and monthly pension amounts of your VAC on deposit plus interest to the date of your estimated retirement. You must have VA contributions on deposit to create a VAC pension estimate.