2017 Preliminary Contribution Rate Notices
April 1, 2016
Executive Summary
Each employer’s "Preliminary Contribution Rate Notice for Calendar Year 2017" will be available April 1, 2016, in the Employer Document Archive. The Employer Document Archive may be accessed through IMRF Employer Access.
The Preliminary Contribution Rate Notice indicates the 2017 Annual Required Contribution (ARC) rate for an employer’s IMRF plans. The ARC rate was calculated by IMRF’s actuaries.
Lump Sum Payments
In addition to paying normal contributions through the monthly wage reporting process, employers can make lump sum contributions to reduce their unfunded liability. Lump sum contributions can be made any time during the year. However, from an employer’s perspective, it is most advantageous to make these payments in December since IMRF grants interest on new calendar year balances. It is recommended that an employer considering additional payments contact IMRF first for further assessment.
Please refer to page 2 of this memorandum for detailed instructions to make lump sum contributions using IMRF’s online or pay-by-phone Electronic Funds Transfer (EFT) system.
Questions?
If you have questions, please call Audrey Brown-Ryce, Financial Relations Manager, at (630) 706-4246 or Corey Lockwood, Employer/Member Data Unit Supervisor at (630) 706-4226. You may also contact IMRF through your Employer Access account's Secure Message Center.