Section 6 - IMRF

Member Accounts / Past Service / Employer Resolutions / SECTION 6
Illinois Municipal Retirement Fund
The adjustment is reported to IMRF via Employer Access. Because online transactions are more accurate,
more efficient, and faster than submitting member information to IMRF on paper, employers with internet
access must submit wage adjustments via Employer Access. See Paragraph 2.90 Secure Employer Access
Area of www.imrf.org for details.
6.40 11. Conversion of Regular or SLEP Service Credit to Elected County Official (ECO) Service
Credit (For earnings previously reported to IMRF) (Form 6.06, Exhibit 6J)
Members who participate in the Original Elected County Official (ECO) plan (joined ECO prior to January
26, 2000) and who have any existing Regular or SLEP service can convert that service to ECO. The cost of
converting this service depends upon the member’s original contributions.
If a member participates in Revised ECO (joined ECO on or after January 26, 2000), he or she can convert
only service earned as an elected county officer to ECO. Use Form 6.06, “Conversion of Regular or SLEP
service credit to Elected County Official (ECO) Service.”
6.40 12. Conversion of Regular Service to SLEP Service (Form 6.09, Exhibit 6TT)
Certain members who participate in the SLEP plan and who have any existing Regular service can convert
that service to SLEP. The SLEP member can convert a maximum of 120 months of Regular Plan service to
SLEP. For the service to be eligible for conversion to SLEP, the Regular Plan service must be followed by
SLEP service.
The cost of converting the service includes the additional SLEP contributions, plus additional employer
contributions, plus interest from the date of the service to the date of payment. Use Form 6.09, “Conversion
of Regular service credit to SLEP Service” (Exhibit 6TT).
Members who join the SLEP plan on or after August 8, 2011 are not eligible to upgrade Regular service
credit to SLEP.
6.40 13. Transfer of Local Police Pension Fund Service into IMRF by Police Chief
(Form 6.22, Exhibit 6T)
Appointed police chiefs of cities, towns and villages that have formed their own police pension fund under
Article 3 of the Illinois Pension Code have the option to participate in either the local police pension fund or
in IMRF SLEP. (See Paragraph 3.80C)
If a police chief elects to join IMRF’s SLEP program, the police chief may transfer into IMRF service credit
previously established in any Illinois police pension fund. Use Form 6.22, “Election of Police Chief to
Participate as a SLEP Member,”
The transferred service credit would be recognized as SLEP service credit. The local police pension fund
would transfer an amount equal to:
a. The amounts accumulated to the police chief’s credit on the books of the police pension fund on the
date of transfer, plus
b. Matching employer contributions, plus
c. Any interest the police chief paid to reinstate service with the police pension fund.
If IMRF determines that the amount transferred is less than the true cost of the service to be established, to
establish that service, the police chief must pay to IMRF an additional contribution equal to the difference.
The true cost of the service to be established is the police chief’s full actuarial cost of the transfer to SLEP.
When a police chief transfers service credit into the IMRF SLEP plan from a downstate police pension fund,
the police chief’s cost for the transfer is the difference between the:
Amount of money the local police pension fund transfers to IMRF, and
Actuarially calculated value of the police chief’s total pension.
Page 254 January 2014