Illinois Municipal Retirement Fund Employer Digest
February 28, 2013
In This Issue
General Memo 636: Employer Rate Meetings
Document Archive
Reminder: Disability and Workers' Compensation
Quick Links
General Memo 636

2013 Employer Rate Meetings: Beyond Rates and Returns 

 

The estimated 2012 investment return for IMRF is 13.7%. This return translates into investment income of approximately $3.5 billion after expenses. From an actuarial basis, IMRF assumed it would earn $1.9 billion.

 

On average, employer accounts will be credited approximately 30% on their beginning of the year employer reserve balance. These credits reflect the fact that, as a sponsor of a defined benefit plan, IMRF employers share all the risks and rewards of investment returns.

 

2013 Employer Rate Meetings: Beyond Rates and Returns 

Beginning on April 22, 2013, IMRF will present a series of Employer Rate meetings throughout the state. At these meetings we will discuss the impact of year-end financial and actuarial data on IMRF as a whole and its estimated impact on individual employers.

 

At these meetings we will also discuss potential pension-related legislation that could impact IMRF as well as other forces influencing IMRF.

 

We encourage you, your chief financial officer, other officials, governing board members, and other interested parties from your employer to attend.

 

IMRF will also present the same information at a webinar in early May. (Information on the webinar will be provided in a future Employer Digest email.)

 

Read more in General Memo 636 

 

Periodically we hear from employers who are looking for a specific document -- a form submitted to IMRF, or a statement or notice provided to employers. Did you know that you can retrieve many of these documents at any time through the secure Employer Access Document Archive?

 

Some of the documents available for display include:
  • Preliminary and Final Rate Notices
  • Reserve Statements 
  • Employer copies of Member Statements
  • GASB Statements
  • Charge and Credit Advices 
  • Various correspondence
How do you access the Document Archive?
You can view the archive by logging into your Employer Access account. Under the menu item "Documents," click on the link labeled "View IMRF Document Archive." You will need to enter your Employer Access password again to authenticate your identity.
Reminder: IMRF Disability and Workers' Compensation

It is important that a member apply for IMRF disability benefits when he or she will be off work for more than 30 days. Applying for IMRF disability benefits protects the member's IMRF service credit and future benefits.

Submit IMRF Form 5.41, Employer Statement-Disability Claim, as soon as a member has stopped working and is expected to remain disabled for 30 days or more.

Always complete the entire form, including the section that asks for details of any workers' compensation claim filed (both approved and denied).

Supplemental workers' compensation payments are IMRF earnings paid by the employer during the same month that a workers' compensation payment is made.

If your employer supplements a member's workers' compensation payments, that impacts how you report the member's wages.

See more instructions on how these wages apply to IMRF in the full February 2013 Reminder.  
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