Illinois Municipal Retirement Fund Employer Digest
February 28, 2014
In This Issue
GM 649: 2014 Employer Rate Meetings
Document Archive
Reminder: Disability and Workers' Compensation
Quick Links
General Memo 649

 

The estimated 2013 investment return for IMRF is 20%. This return translates into investment income of approximately $5.4 billion after expenses. From an actuarial basis, IMRF assumed it would earn $2.239 billion.

On average, employer accounts will be credited approximately 52% residual income based 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.  

2014 Employer Rate Meetings: beyond rates and returns
Beginning on April 21, 2014, 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 pension-related legislation that could impact IMRF as well as other forces influencing IMRF. These meetings will take about an hour, consisting of both a formal presentation and a question and answer period.

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 May. Information on the webinar will be provided in a future Employer Digest Email.

Click here for dates of the upcoming Rate Meetings.

 

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 consecutive 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).

Learn more about IMRF disability and workers' compensation in the February 2014 Reminder.
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