Revised Employer Digest Logo  
September 17, 2015

In This Issue:
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OneRegistration begins for October webinar

Registration for the webinar "Employer Rates: The Hows and the Whys," taking place Wednesday, October 21, is now open. This is the third program in a year-long series of informational webcasts produced by IMRF.
Presented by Louis W. Kosiba, Executive Director, and Mark Nannini, Chief Financial Officer, "Employer Rates" will help finance professionals and Authorized Agents better understand how IMRF rates are calculated and what factors affect rates, enabling them to effectively explain rate changes to governing board members. A question-and-answer session will follow the presentation; questions not addressed during the live program will be answered after and posted to a resource page on IMRF's website.
"Employer Rates: The Hows and the Whys" will begin at 1:30 PM (attendees may log in to the program beginning at 1:00 PM). Authorized Agents, Chief Financial Officers, finance professionals, governing body members, interested parties, and other officials are invited to register for the webinar here.
TwoandahalfReport earnings for members
at the Tier 2 wage cap
For 2015, Tier 2 member wages do not include compensation in excess of $111,571.63.
When a member reaches the Tier 2 wage cap for the year, Authorized Agents should:
  • Stop withholding IMRF contributions for the member.
  • Continue to report earnings only for any wages that exceed the 2015 cap until the end of the calendar year. (IMRF will not accept contributions over the wage cap amount for Tier 2 members.)
  • Remember to begin deducting IMRF contributions with the first 2016 paycheck (this might include a pay period with 2015 dates).
Taking these actions ensures that members continue to receive appropriate service credit and that IMRF has complete information for each member in case of future adjustments or changes.
Review detailed information about implementing the Tier 2 wage cap on the "Reporting of Wages and Contributions" page of IMRF's website.
TwoDeep August 2015 Board Meeting Highlights
At the August 28, 2015, Board meeting, the Board:
  • Reviewed a study showing IMRF as a leader in cost-effective customer service.
  • Approved the submission of an annual report to the governor and the General Assembly documenting IMRF's Illinois-based investments.
  • Heard updates on second quarter activities in support of the 2014-2016 Strategic Plan.
  • Received a legislative update detailing three bills signed into law and one vetoed by the governor.

Read more in the August 2015 Board Meeting Highlights. The next regularly scheduled Board meeting will be held November 20, 2015, at IMRF's Oak Brook headquarters.

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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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