Illinois Municipal Retirement Fund Phone Number

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Product And Service Results

Illinois Municipal Retirement Fund invests $13.4 billion in minority managers
  • IMRFs 10-year performance of 9.47% gross annualized rate of return for the period ending in 2018 outperforms the actuarial assumption of 7.5% and a total portfolio benchmark of 8.78%. Despite the 2008 financial crisis and the resulting recession, IMRFs 15-year performance of 7.12% is just below its 7.50% actuarial assumption. Investments in eight asset classes exceeded benchmarks in 13 of 24 measured periods of 3, 5, and 10 years.

  • IMRF participates in a global benchmarking study that provides detailed comparisons for leading pension systems worldwide, including 44 in IMRFs peer group. IMRF ranks ninth in its peer group for total service score, which measures the performance of its products and services. IMRFs score increased from 86 in 2014 to 89 in 2019, well above the peer average of 77 and approaching the peer max of 94. IMRF is the industry leader, with a service score of 100, for written pension estimates.

People Processes With Results

  • The six-step Performance Management System reinforces high performance and leverages compensation, reward, recognition, and incentive practices. Feedback from employee mid-year and year-end performance reviews is aligned with the Leadership Scorecard and action plan performance measures. Recognition is provided through Kudos awards, as well as town hall meetings, service anniversary celebrations, staff emails, and newsletters.
  • In 2019, IMRF performed at the 89th percentile in an employee engagement survey IMRF equals or outperforms the top 25% average for all 10 drivers of employee engagement, including empowerment, culture, customer focus, learning and development, rewards and recognition, co-worker relationships, department relationships, company potential, manager relationships, and senior manager relationships.

Appointments Required For Counseling Sessions

You are required to schedule an appointment if you want to meet with a Member Services Representative for any reason.

To schedule an appointment, call 1-800-ASK-IMRF .Appointments will be scheduled at:

  • 10:00 a.m.
  • 1:30 p.m.
  • 2:30 p.m.

If you visit our offices without an appointment, you will have to wait to meet with a Member Services Representative until one becomes available.

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Directions From The South

Take I-294 north to Ogden Avenue west. Follow Ogden to the second stop light which will be York Road. Turn north on to York Road. Our parking lot entrance will be on your right just before 22nd Street.

If you miss the parking lot entrance on York Road, turn right onto 22nd Street. The parking lot entrance to the Drake Oak Brook Office Plaza will be the first stop light .

Qildros Under The Illinois Municipal Retirement Fund Settlement Agreements Might Not Mean What They Say

South Jacksonville fixes retirement fund concern

Throughout Illinois, thousands of municipal employees have pension benefits through the Illinois Municipal Retirement Fund . To the extent those pension benefits are earned while the employee is married, those pension benefits can be divided in a divorce case by way of a special court order known as a Qualified Illinois Domestic Relations Order . A QILDRO is separate from a judgment for dissolution of marriage or a marital settlement agreement, which specifies the rights of each of the parties. Rather, it is an order directing the IMRF to split the pension benefits in accordance with very specific instructions.

The Illinois Pension Code contains very specific instructions as to what information a QILDRO must contain in order for the IMRF to comply with the courts order to divide pension benefits. In fact, the Illinois Pension Code even includes a sample fill-in-the-blanks form containing pre-printed language and boxes to check. The IMRF uses the form as specified in the pension code.

Because a QILDRO is a fill-in-the-blanks form, it does not allow many options for the parties to customize the way they divide pension benefits in a divorce case. Thus, it is possible for there to be a conflict between the terms of a judgment for dissolution of marriage and the terms of the QILDRO that the IMRF must process. In the event of such a conflict, which terms would control?

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Meabf Serving The People Of Chicago For 100 Years

MEABF is a defined benefit, single employer benefit plan that was established in 1921 by an act of the Illinois General Assembly to provide disability and retirement benefits to qualified employees of the City of Chicago and the Chicago Board of Education.

Our sole purpose is to pay earned benefits to our members, which is funded by a combination of member contributions, taxes levied by the City of Chicago, and investment earnings from Plan reserves. MEABF is a component unit of the City of Chicago, and as such, is included in the City of Chicagos financial statements as a pension trust fund.

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Teachers Retirement System Trs

The Teachers Retirement System of the State of Illinois was created by the Illinois General Assembly in 1939 for the purpose of providing retirement annuities, survivors and disability benefits for PK-12 public school educators outside of the City of Chicago.

TRS contributions and benefits have fluctuated over the years. Prior to July 1, 1933, contributions were based on a flat dollar amount per year. The contribution rate for the first 10 years of service were $5/year, the next 5 years were $10/year and the next 10 years were $30/year. Current covered employee contributions are 9% of creditable earnings salary.

Employees are currently divided into either Tier I or Tier II based on their hire dates. Tier I members are public educators that began participation in an Illinois public pension plan prior to January 1, 2011. Tier II members are public educators that started employment in a position covered by an Illinois public pension plan on or after January 1, 2011.

The Tier status of an employee impacts retirement eligibility:

  • TRS allows for an unreduced retirement annuity with the following:
  • Age 55 with 35 years of service
  • Age 60 with 10 years of service
  • Age 62 with 5 years of service
  • TRS Tier 2 requires age 67 and 10 years of service
  • Tier 2 does allow for a permanently reduced annuity between the ages of 62-67 with 10 years of service. The reduction is equal to 6% a year for each year under the age of 67.

Customer Processes With Results

TEF IMRF
  • A voice-of-the-customer survey process keeps the organization focused on its members and employers. To ensure timely and actionable feedback, tablet surveys for member walk-ins and toll-free lines are utilized to collect real-time data. Member satisfaction with transactions was 97% in 2018, with 85% of members indicating that they were very satisfied. Employer satisfaction with transactions was 96%, with 67% very satisfied.
  • IMRFs net promotor score for member transactions in 2018 was 87.1, and its score for employer transactions was 80.7 . IMRFs workshop ratings were even higher: 92.9 for members and 93.2 for employers. IMRF outperforms the government industry benchmark , the finance industry benchmark , and the business support industry benchmark .
  • IMRF is an industry leader in performance in a third-party survey that measures customer satisfaction using the American Customer Satisfaction Index . IMRFs ASCI score of 94 is better than the other funds that participate. It outperforms the benchmark for industries such as Pension Benefit Guaranty Corporation , banks , health insurance , and social security .

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Work Process Effectiveness Results

  • IMRF utilizes a four-step Continuous Improvement Process, IAPI , for any staff member to identify and submit opportunities for improvement online in the COMPASS intranet site, which has an automated workflow for tracking the status of improvement efforts. IAPI is a driving force for operational improvements in cost control, automation, auditing, timeliness, the volume of transactions per employee, and reduction of errors and need for rework.
  • The Office Services Department error rate has decreased from 0.38% in 2016 to 0.21% in 2018, and the percentage of documents processed the same day is 100%. Call hold time has decreased from 139 seconds in 2014 to 72 seconds in 2018, outperforming the target of 105.

Illinois Municipal Retirement Fund

Duty to post information pertaining to benefits offered through the Illinois Municipal Retirement Fund .

A physical copy of this information is located at the principal office of Warren Township in lieu of posting the information directly on this website.This information can be accessed at the Supervisor’s Office in:Township Hall BuildingGurnee, IL 60031

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Imrf Employer Cost & Participation Information

In 2019, the Illinois General Assembly passed Public Act 101-0504. The law requires IMRF to post certain employer cost and participation information on its website. IMRF will update these reports annually.

Illinois Municipal Retirement Fund Imrf

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The Illinois Municipal Retirement Fund was created by the Illinois General Assembly in 1939 for the purpose of providing for the payment of retirement, death, and disability benefits for ESP employees of local governments and school districts outside of the City of Chicago and Cook County.

Unlike TRS, IMRF contributions vary across the state as IMRF is a local program. Each individual employer contributes to an account specific to their employees.

Employees are currently divided into either Tier I or Tier II based on their hire dates. Tier I members are public educators that began participation in an Illinois public pension plan prior to January 1, 2011. Tier II members are public educators that started employment in a position covered by an Illinois public pension plan on or after January 1, 2011.

The Tier status of an employee impacts retirement eligibility:

  • IMRF allows for an unreduced retirement annuity with the following:
  • Age 55 with 35 years of service
  • Age 60 with 8 years of service
  • IMRF Tier 2 requires age 67 and 10 years of service
  • Tier 2 does allow for a permanently reduced annuity between the ages of 62-67 with 10 years of service. The reduction is equal to 6% a year for each year under the age of 67.

For more information on TRS Tier I and II requirements, please see the attached documents.

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Municipal Retirement Fund Of Illinoissalaries

Number of employees at Municipal Retirement Fund of Illinois in year 2021was 225. Average annual salarywas $72,736 and median salarywas $62,770. Municipal Retirement Fund of Illinois average salaryis 55percent higher than USA average and mediansalary is 44percent higher than USA median.

GovSalaries is not affiliated with any government entity. We cannot makeanyguarantee that information on this website 100% accurate or complete. GovSalaries is not aconsumerreporting agency as defined by the Fair Credit Reporting Act, 15 USC § 1681 et seq, . We strictlyprohibit the use of this website or the information it contains to make any determinations concerningemployment, consumer credit, insurance, tenant screening, or any other purpose that would require FCRAcompliance.

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