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Welcome to
Employer Digest, your monthly source for IMRF news and
information to help you stay connected with IMRF.
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COVID-19 Coronavirus News
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As we continue to adjust our business practices for the COVID-19 pandemic, please check our COVID-19 FAQs for the most updated information regarding IMRF changes.
Coronavirus Aid, Relief, and Economic Security Act (the CARES Act)
- The CARES Act provides different tax treatments for refunds of IMRF contributions. The CARES Act makes refunds requested for a "coronavirus-related" purpose exempt from the 10% early withdrawal penalty. It also requires IMRF to withhold only 10% of the taxable amount (instead of the usual 20%). Members can also choose to have no tax withheld.
- The rules for when members can take a refund have NOT changed. While the CARES Act provides different tax treatment for refunds, it does not change the rules for when members can take a refund. If members' hours are reduced or they are furloughed but still in an employment relationship with their IMRF employer, they cannot take a refund of their IMRF contributions.
To learn more about the CARES Act and refunds, read the CARES Act FAQ.
Furloughs, Lay-offs, and Benefit Protection Leave (BPL)
When a member has earnings, regardless of amount, employers should continue to report the member on their monthly wage report. However, there are special considerations for members without wages to report or with reduced wages:
- If a member has no wages but remains employed, do not report the member on the wage report.
- If a member has no wages because they are no longer employed by an IMRF employer, terminate their participation in IMRF.
- If a member is receiving reduced wages, report the reduced wages on the wage report. Employees with reduced hours of work due to Covid-19 are not terminated from participation with IMRF, if the expectation is they will return to full work hours later.
See the
BPL FAQ
for more information.
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Last Employer Rate Webinar This Tuesday
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Register today for IMRF's 2020 Employer Rate webinar on
Tuesday, May 12, at 2:00 PM
. Authorized Agents, chief financial officers, governing body members, other officials, and interested parties from your employer are encouraged to attend. Please
click here
to register for the webinar.
Learn about the impact of year-end financial and actuarial data
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.
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IMRF to Release 2019 Annual Reports
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IMRF's 2019 Comprehensive Annual Financial Report (CAFR), Popular Annual Financial Report (PAFR), and associated documents will be available on IMRF's website by the end of May. Your auditor will need these documents if your employer follows Generally Accepted Accounting Principles (GAAP) in its financial reporting.
Additional Documents Available
- 2019 Schedule of Changes in Fiduciary Net Position by Employer
- 2019 Reconciliation Adjustments Schedule
- 2019 IMRF Census Data Attestation Report
The 2019 Actuarial Valuation and 2019 Gain/Loss Analysis are now located on the
Reports for Employers page
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IMRF Board of Trustees President Dave Miller Promoted
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Congratulations to IMRF Board of Trustees President Dave Miller for his recent appointment as Executive Director of the North Shore Water Reclamation District (
NSWRD)
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"It's both a great honor and a great responsibility to lead the second largest water reclamation district in Illinois," stated Miller. "I'm excited to have the opportunity to work with the [NSWRD] Board of Trustees and staff to build upon the District's reputation as a respected, environmental leader in wastewater treatment and resource recovery."
Read more about Dave Miller's new position here.
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