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Tuesday, August 2, 2022
Dear John,
IMRF would like to extend thanks to you, our employers and third-party payroll providers, for your participation in the activities that have been ongoing in preparation for our upcoming system changes. Through the feedback and test data we have been able to gather from you, we are happy to announce an improvement to the wage reporting functionality that will be included as part of our initial system implementation.
As part of the transition activities to help prepare for this switch, IMRF shared information with you that the contribution calculation in the new system allowed no variance between your system calculated contribution and ours. Because of this, we outlined the method by which our system will calculate the expected member contributions. While we still recommend this calculation as a best practice, the solution is being improved to allow member contribution to be accepted as reported, provided the contribution falls within a threshold of the expected amount. This improvement allows enough variance to account for the rounding differences between your payroll system calculations and ours. Because this threshold is the same as IMRF does today, we feel confident that this will resolve the rounding related concerns you have raised.
IMRF is working hard to ensure you have a smooth and successful transition to our new system and will continue to share information and provide training opportunities as they become available. Please be sure to share this information with any interested parties at your employer as needed.
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