Section 6 - IMRF

Illinois Municipal Retirement Fund Member Accounts / Past Service / Employer Resolutions / SECTION 6
If the police chief does not make the full additional payment prior to termination of his participation with that
employer, then his or her service shall be reduced by an amount equal to the difference between the amount
transferred, including any payments made by the police chief prior to termination, and the true cost of the
service to be established.
DO NOT report the police chief’s wages and contributions until the following steps are completed.
1. Obtain an estimate of the costs for the chief to transfer police pension fund service to the SLEP
program.
2. Determine whether IMRF’s SLEP Plan is advantageous to the police chief.
3. Determine whether transferring in or reclassifying service is appropriate for the police chief’s
circumstance.
6.40 14. Transfers to State Employees’ Retirement System (Form 6.92, Exhibit 6WW)
Public Act 95-0530 allows former IMRF members who participated in SLEP but now participate in SERS as
a state police officer, conservation police officer, or, investigator for Secretary of State to transfer their IMRF
SLEP service to SERS. SERS can accept up to five years of transferred service. They can also reinstate their
refunded SLEP service at a reduced interest rate.
To transfer the service, the member would complete IMRF Form 6.92, “IMRF Transfer to State Employees
Retirement System (SERS Alternative Retirement Formula Plan) Under Public Act 95-0530.”
The member can apply for this transfer at any time; there is no deadline for application.
If the member took a refund of his or her IMRF service credit, the member can repay the refund at a reduced
interest rate and reinstate the service. The former member can indicate that he or she has service to reinstate
on Form 6.92.
The member’s cost to reinstate the service will be calculated using a reduced interest rate of 6% (instead of
the normal 7.50%). Once the member receives a Past Service Payment Schedule from IMRF, he or she can
repay the refund at any time in order to transfer the service; no deadline exists for repayment of the refund.
However, if the member reinstates the SLEP service at the reduced interest rate, the reinstated service must
be transferred to SERS; it cannot remain on deposit with IMRF.
6.40 A. General Requirements for Past Service Applications
All past service shown on the application must have been rendered in an IMRF covered position. Credits cannot be
granted for service in a position which at the time of service did not qualify for IMRF coverage.
All applications for service credits must be received while the member is in an active IMRF status (contributing, on
authorized IMRF Benefit Protection Leave, on seasonal leave, or receiving disability benefits). Certain kinds of
past service applications can be accepted if the applicant is actively participating in a retirement system under the
Retirement Systems Reciprocal Act (See Paragraph 5.50 Reciprocity).
Payment for service credits must be received while the member is in an active IMRF status. However, one final
payment may be made after termination. That one payment may affect retirement claims and the time needed to
pay the benefit. Reciprocal members need to have a minimum of 12 months of IMRF service credit for their service
to be considered and used for service credit under the Reciprocal Act.
The entire payment is credited to the member’s account as contributions. The interest charged represents the
amount of interest that would have accumulated on the contributions had they been on deposit with IMRF. The
interest that is included in the payments by the member for past service credits is not tax deductible.
If a member purchases service through IMRF’s Unit Payment System (see Paragraph 6.40 C. Member Application
and Payments), those payments are recorded as previously taxed (after-tax) member contributions. The
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