Board approves 2020 phase-in rate option
The IMRF Board of Trustees approved a plan to offer IMRF employers a phase-in option for 2020 Regular Plan contribution rates.
IMRF employers may explore their phase-in options by accessing their 2020 Preliminary Contribution Rate Notice within Employer Access. This notice provides employers with their estimated 2020 actuarial determined contribution (ADC) rate for their IMRF plans, as well as an optional phase-in rate where applicable. Employers may also access general information about the phase-in option here.
Board hears update on 101st Legislative Session
The Board heard an update on the spring session of the 101st General Assembly.
In contrast to 2018, a number of bills were introduced that affect pensions, including more than 20 that impact IMRF. You can learn more about the proposed legislation, and the IMRF Board’s position on each bill, here.
Staff updates Board on technology modernization project
Staff reported that IMRF’s project to modernize the technologies and processes it uses to administer the pension system remains on track. The new technology, which will be implemented in 2021, will improve the way employers and members interact with IMRF (more transactions will go online, enabling faster and more modern communication). Staff reported that IMRF will share more information with employers and members as the project progresses.
New units of government join IMRF
The Board approved the participation of the following new employers:
- Elwood Library District
- SouthCom Combined Dispatch Center
- Winfield Park District
Next Board meeting
The next regular meeting of the IMRF Board of Trustees will be May 17 at 9 a.m. at IMRF’s Oak Brook headquarters.