General Memo 500

Paperwork

Meetings to discuss IMRF’s 2002 Investment Return and the impact on Employer Contribution Rates

February 26, 2003

In early April 2003, you will receive your Advance Rate Notice for employer contributions to IMRF in calendar year 2004.

Due to the poor investment returns of the last three years, most employers will see an increase in rates. The increases will vary greatly. We know you and others in your unit of government may have questions about these increases and the prospects for future increases to employer rates after 2004.

The IMRF Chief Financial Officer and Executive Director have scheduled meetings throughout the state to meet with you and other representatives of your employer to discuss IMRF’s recent results and to answer your questions.

The meetings will take an hour-and-a-half, consisting of both a formal presentation and a question and answer period. We encourage you, the chief financial officer, other officials, governing board members, and other interested parties from your employer to attend.