June 15, 2015


In This Issue: Use Employer Access to report wage adjustments Keep a resolution on file for Section 125 plans May 2015 Board Highlights	Quick Links: Visit IMRF's Website Log in to Employer Access Employer Digest Email Archive

Use Employer Access to report wage adjustments

If a member's wages have been incorrectly reported to IMRF, submit a wage adjustment to IMRF using the "Report Wage Adjustments" option in Employer Access. To submit a wage adjustment:

Log in to your Employer Access account.
Select "Report Wage Adjustments" under the Wage & Contribution section on Employer Access' home page.
Enter the member's Social Security number, enter the month and year of the wage report to be adjusted, and then select the member's plan. Select "Continue" when done.
Enter the correct total monthly wages in the "Adjusted Wages" box. (For example, if $1,000 was incorrectly reported but the correct amount is $1,200, enter $1,200 not $200.)
Enter a reason for the adjustment then select "Continue."
Click the certification box then click "Adjust."

After IMRF reviews the adjustment, your employer will receive a paper advice indicating either a charge or a credit. The advice will also be available in Document Archive and will be reflected in your Employer Receivable Balance. If the advice is a charge, an EFT payment to IMRF should be made within 30 days.

Keep a Resolution on file for Section 125 Plans

Cafeteria plans may be established under Section 125 of the Internal Revenue Code. If the cafeteria plan has a cash option, those cash payments are IMRF earnings and must be reported to IMRF.

However, other compensation paid under a cafeteria plan is not reportable to IMRF unless the employer's governing body adopts a resolution using IMRF Form 6.72, "Suggested resolution to include compensation paid under an Internal Revenue Code Section 125 Plan as IMRF earnings." The form must be completed, certified, and returned to IMRF. Without the appropriate resolution on file, the compensation is not reportable to IMRF.

To read more about reporting other compensation paid under a cafeteria plan, see Paragraph 6.60 F (To Include Compensation Paid Under an Internal Revenue Code Section 125 Plan as IMRF Earnings) in the Manual for Authorized Agents.

May 2015 Board Highlights

At the May 29, 2015, Board meeting, the Board:

Heard the annual Actuarial Valuation report for 2014
Heard a report on GASB 68 implications
Approved 2015 election procedures and materials
Received an update on legislative activity relevant to IMRF
Approved the participation of two new IMRF employers

Read more in the May 2015 Board Highlights. The next regularly scheduled Board meeting will be held August 28 at IMRF's Oak Brook headquarters.

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IMRF

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Oak Brook, IL 60523-2337

Member-only Phone: 1-800-ASK-IMRF (275-4673)

Employer-only Phone: 1-800-728-7971

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