Friday, November 8, 2019
Welcome to Employer Digest, your monthly source for IMRF news and
information to help you stay connected with IMRF.
2020 Final Rate Notices 
Your employer's 2020 Final Rate Notice will be available in Employer Access on Monday, November 25th, following the IMRF Board of Trustees meeting the prior week. You will be able to access the document from the "Display Annual Documents" link under the "Documents" section of your Employer Access account.

The Final Rate Notice provides your employer's 2020 Annual Contribution Rate for each of its IMRF plans. If you have questions about your employer's rate notice, contact IMRF at 1-800-728-7971 (employer-only number).
Tier 2 Wage Cap Increase for 2020
The Tier 2 member wage cap for 2020 is $115,928.92. Employers must report member earnings over $115,928.92, but should not withhold any IMRF contributions for wages above this cap.

The wage cap period is based on the calendar year, regardless of your
employer's fiscal year. If a member reaches the 2020 wage cap, the employer must:
  1. Keep reporting the  member's wages to IMRF.
  2. Stop withholding member contributions from the member's paycheck.
  3. Stop withholding member voluntary additional contributions. 
Employers must continue reporting a member's wages to IMRF, even in excess of the Tier 2 wage cap, so that the member continues to earn service credit.

As a reminder, the 2019 Tier 2 wage cap is $114,951.83. Please be mindful of this wage cap during November and December payroll to ensure your employer follows the required steps for withholding member contributions and reporting wages above this amount.

Please contact IMRF at 1-800-728-7971 (employer-only number) if you have any questions about the Tier 2 wage cap or need to discuss any complex circumstances.
Ready for Performance Excellence: Free Workshop for  IMRF Employers!
IMRF is excited to be a finalist for the 2019 Malcolm Baldrige National Quality Award, a Presidential award for performance excellence. Baldrige award recipients and finalists are expected to share their best practices with other organizations. IMRF encourages our employer entities to consider undertaking their own Journeys of Excellence.

IMEC is a non-profit charged with providing organizations with the tools and techniques to create competitive futures. Their program highlights best practices, strategies, and inspiration for any Illinois organization seeking performance improvement.

IMRF employers interested in improving processes and overall effectiveness are encouraged to attend a new ½ day program offered to local units of government. This workshop will provide an introduction to the Baldrige Excellence Framework, and will show how IMEC can help employers achieve higher levels of performance.

Please learn more about this free workshop and visit IMEC's website to register.
Keep IMRF Informed of Employee Information Changes
Changes in an employee's position, plan, or earnings can affect their IMRF coverage. Authorized Agents are reminded to update IMRF records with all changes to an employee's information.

The Changes in Employee Information page of IMRF's website provides a checklist of key circumstances that should be reported to IMRF, including:
  • Name, address, or other informational changes
  • Election to make or change Voluntary Additional Contributions
  • Changes to a member's employment or IMRF plan, or a change from an elected position to a non-elected position (or vice versa).
This page also includes links to Employer Access and downloadable forms to complete employee information updates as needed.
Visit IMRF"s website
 
Employer Access
Employer Digest Archive
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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