Friday, May 12, 2023

Welcome to Employer Digest, your monthly source for IMRF news and
information to help you stay connected with IMRF.

IMRF to Release 2022 Annual Report

IMRF's 2022 Annual Comprehensive Financial Report (ACFR) and associated documents will be available on IMRF's website by early June. Your auditor will need these documents if your employer follows Generally Accepted Accounting Principles (GAAP) in its financial reporting.


You will find the 2022 ACFR and Detailed List of 2022 Investments on the Annual Financial Reports page.


Additional documents available 

The following documents will be located in the Display Annual Documents section of Employer Access:


  • 2022 Schedule of Changes in Fiduciary Net Position by Employer
  • 2022 Reconciliation Adjustments Schedule
  • 2022 IMRF Census Data Attestation Report


The 2022 Actuarial Valuation and 2022 Gain/Loss Analysis are now located on the Reports for Employers page.


If you have any questions about IMRF's annual reports, call the employer-only number: 1-800-728-7971.

Employer Rate Webinar Recording Available

IMRF's 2023 Employer Rate Webinar is now available on IMRF's website. During the webinar, Executive Director Brian Collins and Chief Financial Officer Mark Nannini shared:


  • The impact of year-end financial and actuarial data on IMRF
  • The data's estimated impact on employers


Content on webinar page

This Employer Rate webinar page includes:


  • A link to view the webinar program in its entirety
  • A link to download the presentation's slides
  • Comments from the attendees


Share the webinar with others 

We encourage you to share the webinar with your employer's financial officers, governing body members, and other interested parties.

Elected Officials Must Submit Written Notice to Participate in IMRF

Unlike regular employees, elected officials have the option to participate in IMRF when the position meets the applicable hourly standard.


IMRF employer compliance reviews show that officials often believe they are participating in IMRF when they are not. If this error is not corrected, an official may lose service credit depending on when the error is discovered. A loss of service credit will reduce the value of the member’s retirement annuity.


An elected official may choose to participate in IMRF when these two requirements are met:


  1. The employer must certify that the specific elected position meets the hourly standard of either 600 or 1000 hours per year.
  2. The official must complete and submit an "Election to Participate for Qualifying Position" form to IMRF. The qualifying elected official and the IMRF Authorized Agent must sign the form.


IMRF also requires this form when a member goes from a non-elected qualifying position to an elected qualifying position. Simply continuing to make member contributions is not sufficient for IMRF participation once a member moves to an elected position.


Failure to properly notify IMRF of the move to a qualifying elected position may result in the loss of service credit and reduce the official’s retirement benefit.


Employers must enroll members using Employer Access. To do so, log in and follow the steps described in Employer Access.


For more information

To learn more about IMRF participation, eligibility verification, and more, see Section 3.65E of the Authorized Agent manual. For specific questions, call the employer-only number: 1-800-728-7971.

Why does IMRF Perform Compliance Reviews?

By performing compliance reviews, IMRF can assist employers in understanding and administering IMRF benefits according to the Illinois Pension Code. Performing compliance reviews is considered a best practice for public pension funds. 


To help you understand and prepare for a compliance review, our web site explains IMRF's compliance review process, including tools, resources, and best practices that could help prevent compliance findings.  


How are employers selected for compliance reviews? 

Every December IMRF selects which employers will be reviewed in the following year. We consider several factors such as:


  • The date of an employer’s last IMRF compliance review
  • Employer Representative territory
  • Type and size of employer 


The IMRF Board of Trustees approves the number of employer compliance reviews we perform each year. IMRF reviews approximately 200 employers a year. 


We are here to help you 

Our compliance team will involve you at every stage of the review, so you understand what is being done and why. The most successful employer compliance reviews happen when the employer and the IMRF Employer Compliance team have a collaborative working relationship. 


For more information regarding employer compliance reviews, please visit the IMRF compliance pages.

Authorized Agent Webinars

We offer these online webinars for Authorized Agents to learn more about IMRF procedures and how to administer IMRF. Register today!


May 2023

  • Module 1: Introduction, Enrollment, Wage Reporting, and Termination – May 16
  • Module 2: IMRF Benefits, Employer Rates, and Legislation – May 23


June 2023

  • Module 1: Introduction, Enrollment, Wage Reporting, and Termination – June 6
  • Module 2: IMRF Benefits, Employer Rates, and Legislation – June 20


All sessions run 9:00 AM to 10:30 AM.


Webinar structure

This 2-part webinar series prepares IMRF Authorized Agents to perform common IMRF tasks. Note: to receive a completion certificate, you must attend the session live, not watch a recording.


Together, these two 90-minute webinars cover the topics included in the former one-day workshop. Each webinar stands alone, and you can attend them in either order. You are unable to cancel registration from a single module.

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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
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