Friday, April 12, 2019
Welcome to Employer Digest, your monthly source for IMRF news and information to help you stay connected with IMRF.
2020 Preliminary Contribution Rate Notices,
Optional Phase-In
This matter is time sensitive. Please share this information with your unit of government's chief financial officer/business manager.

Your employer's 2020 Preliminary Contribution Rate Notice is now available in the "Display Annual Documents" section of Employer Access. This notice provides your employer's estimated 2020 actuarial determined contribution (ADC) rate and is necessary for financial planning, accounting, and reporting.

Some employers will also find an optional phase-in rate for their Regular plan in their notice. Due to the change to IMRF's assumed rate of return and the 2018 investment loss, some employers may experience an increase in their 2020 rates. Selecting the phase-in rate spreads that increased cost over multiple years.

The phase-in rate was calculated by IMRF's actuaries using each employer's ADC rate. Employers with an ADC rate higher than the phase-in rate will see this option on their notice and will have until Friday, August 30, 2019, to select their 2020 contribution rate. If IMRF does not hear back from an employer by this date, we will assume the employer has chosen to contribute at their ADC rate in 2020.

More information about how to select the rate and the options available for employers can be found at www.imrf.org/2020-preliminary-employer-rates. IMRF encourages employers with the financial capability to contribute at the ADC rate in 2020.

For questions about your employer's Preliminary Contribution Rate Notice, please send IMRF a secure message, or contact Employer/Member Data Unit Supervisor Dionne Green at 630-706-4234 or Financial Relations Manager Audrey Brown-Ryce at 630-706-4246.
Register for Employer Rate Meeting, Webinar
Registration is now open for IMRF's 2019 Employer Rate Meeting webinar on Tuesday, May 14, at 1:30 PM. Authorized Agents, chief financial officers, governing body members, and other officials and interested parties from your employer are encouraged to attend.
The webinar offers an online opportunity for employers to learn about the impact of year-end financial and actuarial data on IMRF, and the data's estimated impact on individual employers. IMRF Executive Director Brian Collins and Chief Financial Officer Mark Nannini will conduct the webinar.

Employers may also register for an in-person Employer Rate Meeting in late April or early May. View the schedule and self-register through Employer Access.
GASB 68 Statements Now Available
Your employer's 2018 GASB 68 Statement and Census Data is now available in the "Display Annual Documents" section of Employer Access. Please share this information with your unit of government's chief financial officer/business manager.

If your employer offers more than one IMRF plan, you will have a separate GASB 68 statement for each plan. Log in to Employer Access to view these documents.
Please Complete Employer Survey by April 19
Earlier this week, Authorized Agents and Web Assistants received a link to complete the next employer survey. Please complete the survey by Friday, April 19. The survey asks you about your employer's experience with IMRF's accelerated payment process.

Thank you to everyone who completed our last survey, which asked you about your employer's overall experience with IMRF. We received very positive feedback, as well as some questions about our password policy for Employer Access.

IMRF is committed to implementing security best practices for member and employer information to ensure this information remains safe. Part of that process involves a rigorous password security policy for Employer Access.

  • We require that employers update their password every 90 days for Employer Access to protect these accounts from being hacked.

  • We also prevent the reuse of previous passwords to further secure your member and employer information.

  • Along with password length, case, and character requirements, members and employers can be confident that their information is safe with IMRF.

We continue to monitor trends in security and are working on ways to improve our password process in the future. Your feedback plays an important role in helping us improve, so thank you for providing your input through our ongoing employer surveys.
IMRF Named 2019 Plan Sponsor of the Year!
On Thursday, March 28, 2019, IMRF won the 2019 Plan Sponsor of the Year Award at PLANSPONSOR Magazine's Excellence in Retirement Awards ceremony in New York City. The magazine recognized IMRF as the top public defined benefit plan in the United States.
IMRF earned this year's designation for a high funding level, disciplined investment approach, and focus on continuous improvement.

This is IMRF's second recognition from PLANSPONSOR within the last four years, as IMRF earned a "Standout" award from the magazine in 2016.

March 2019 Board Meeting Highlights
On Friday, March 22, 2019, the IMRF Board of Trustees:

  • Approved preliminary contribution rates and the optional phase-in rate for employers for 2020
  • Discussed the Board's positions on possible 2019 legislation

You can read the full March 2019 Board Meeting Highlights here. The next regular meeting of the Board will be Friday, May 17, at 9 AM at IMRF's Oak Brook office.
Visit IMRF's website
Employer Access
Employer Digest Archive
You are receiving this email because you have been identified as an Employer Contact of IMRF. As such, you cannot opt out of receiving this email. To update your Employer Contact information, log in to your Employer Access account.

If someone at your employer would like to receive Employer Digest and does not have an Employer Access account, you can log in to your Employer Access account and add them as a "News Subscriber," or they may sign up here .
2211 N. York Rd., Ste. 500, Oak Brook, IL 60523-2337 (Main Office)
3000 Professional Dr., Ste. 101, Springfield, IL 62703
Member-only Phone: 1-800-ASK-IMRF (275-4673)
Employer-only Phone: 1-800-728-7971