General Memo 624

Documents

2012 Employer Rate Meetings: 2011 investment return, its impact on employers, potential pension-related legislation, and other forces influencing IMRF

February 29, 2012


We encourage each Authorized Agent to share this memorandum with your unit of government’s chief financial officer, other officials, and governing body members.


This preliminary information is based on unaudited investment return data and projected actuarial information. Finalized information will be available in early May 2012.

The estimated 2011 investment return for IMRF is a negative .5%. This return translates into investment loss of approximately $106 million. From an actuarial basis, IMRF assumed it would earn $1.979 billion.

As a result, employer reserve balances will be reduced by approximately 18% on their beginning of the year balance. This charge to employer reserve balances reflects the fact that, as a member of a defined benefit plan, IMRF employers share all the risks and rewards of investment returns.

2012 Employer Rate Meetings: beyond rates and returns
Beginning on April 23, 2012, IMRF will present a series of Employer Rate meetings throughout the state. At these meetings we will discuss the impact of year-end financial and actuarial data on IMRF as a whole and its estimated impact on individual employers.

However, at these meetings we will also discuss potential pension-related legislation that could impact IMRF as well as other forces influencing IMRF.

Register online by logging into your Employer Access account, clicking on "Find a Workshop," selecting Employer Rate Meeting, and clicking on "Find."

If you do not have an Employer Access account, you can register by faxing a completed registration form to 630-368-5397 or by calling IMRF Meeting Planner Donna Cesario at 630-706-4536.

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

IMRF will also present the same information at a webinar in early May. (Information on the webinar will be provided in a future Employer Digest email).

Dates and Locations
Advance registration is requested
Monday, April 23 Stoney Creek Inn
101 Mariners Way
East Peoria
10 am
IMRF Regional Office
3000 Professional Drive
/ Springfield
2 pm
Tuesday, April 24 Gateway Center
One Gateway Drive
Collinsville
9 am
Fairfield Inn by Marriot
217 Potomac Blvd.
Mt. Vernon
2 pm
Wednesday, April 25 Hilton Garden Inn
1501 S. Neil Street
Champaign
9 am
Monday, April 30 Clock Tower Resort & Conf
7801 E. State Street
Rockford
9 am
Stoney Creek Inn
101 18th Street
Moline
2 pm
Tuesday, May 1 Hilton Garden Inn
26225 N. Riverwoods Blvd.
Mettawa
2 pm
Wednesday, May 2 Hilton Garden Inn
18335 S. LaGrange Road
Tinley Park
10 am
DoubleTree
1909 Spring Road
Oak Brook
2 pm

Register online by logging into your Employer Access account, clicking on "Find a Workshop," selecting Employer Rate meeting, and clicking on "Find."

If you do not have an Employer Access account, you can register by faxing a completed registration form to 630-368-5397 or by calling IMRF Meeting Planner Donna Cesario at 630-706-4536.

Questions?

If you have any questions, please call an IMRF Member Services Representative at 1-800-ASK-IMRF (1-800-275-4673) 7:30 a.m. to 5:30 p.m., Monday through Friday, or send IMRF a Secure Electronic Message.