August Board Meeting Highlights; Report Earnings For Members At The Tier 2 Wage Cap

September 19, 2016


In This Issue: August Board Meeting Highlights Report earnings for members at the Tier 2 wage cap	Quick Links: Visit IMRF's website Log in to Employer Access Employer Digest email archive

August Board Meeting Highlights

At the August 26, 2016, Board Meeting, the Board:

Reviewed new Strategic Objectives and Key Strategies
Approved a report on Illinois-based investments
Passed resolutions recognizing IMRF's "First Five" Employers

Read the complete report in the August 2016 Board Meeting Highlights.

The next regularly scheduled Board meeting will be held November 18, 2016, at IMRF's Oak Brook office.

Report earnings for members at the Tier 2 wage cap

For 2016, 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 2016 cap until the end of the calendar year. (IMRF will not accept contributions on wages over the wage cap amount for Tier 2 members.)
Remember to begin deducting IMRF contributions with the first 2017 paycheck (this might include a pay period with 2016 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.

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IMRF

2211 York Road, Suite 500

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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