2018 Preliminary Contribution Rate Notices
April 3, 2017
Executive Summary
Your employer’s “Preliminary Contribution Rate Notice for Calendar Year 2018” will be available April 3, 2017, in the “Annual Documentation” section of Employer Access.
The Preliminary Contribution Rate Notice indicates the 2018 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 may also make lump sum contributions to reduce their unfunded liability. Lump sum contributions can be made any time during the year. From an employer’s perspective, however, 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 additional questions, please contact IMRF using the Employer Access Secure Messaging Center or contact an IMRF Member Services Representative using the exclusive, employer-only phone number, 1-800-728-7971, Monday through Friday, 7:30 AM to 5:30 PM (CST).
If you have questions, please call Aurora O’Neal, Employer/Member Data Unit Supervisor at (630) 706-4263, or Audrey Brown-Ryce, Financial Relations Manager, at (630) 706-4246. You may also contact IMRF through your Employer Access account’s Secure Message Center.