Section 6 - IMRF

More documents

Recommendations

Info

“How to pay...” continued from front 2. Payment Schedules IMRF will mail you a Past Service Payment Schedule which offers two payment plan options for establishing the past service: Option I is the Lump Sum Payment Plan. The Lump Sum Payment Plan allows you to pay the total cost with a single payment and purchase all the eligible service you choose to purchase at one time. You can purchase a portion, all, or none of the past service listed on your payment schedule. 3. Using a rollover from another pension plan to purchase the service Exhibit 6J Page 2 of 3 You may pay for service with money from a qualified pension plan as defined by Section 401 of the Internal Revenue Code. Complete and submit IMRF Form 6.01, “Request for Rollover Approval,” for determination of eligibility. Option 2 is the Unit Payment Plan. The Unit Payment Plan allows you to purchase one or more months of service at a time. You may pay as often as you like, buying back credit from the most recent month to the earliest month of eligible service. However, you may not buy more months than indicated on the Past Service Payment Schedule. How purchasing the service will affect your pension If you want to know how converting your service will affect your pension, you should wait until you receive the Past Service Payment Schedule. Then you can call 1-800-ASK-IMRF (1-800-275-4673) or call your current retirement system for a pension estimate before you determine how many months of service to purchase. You can also refer to the IMRF Past Service Booklet, which you can find online at www.imrf.org, or call 1-800-ASK-IMRF to request a copy. The section titled “Is it worth it to purchase service” provides a detailed description of how to calculate the impact of service on your pension. If the member plans to retire under the Reciprocal Act The Illinois Retirement Systems Reciprocal Act requires a minimum of 12 months of service credit with any single reciprocal pension system. If you have less than 12 months of service with any single reciprocal retirement system, that service will not be counted in the calculation of your reciprocal pension. Exception: A former teacher aide who transferred to a position covered by the Teachers’ Retirement System (TRS) and who has less than 12 months of IMRF service credit can apply that service toward a reciprocal pension. A list of the 13 systems covered by the Act is available on the IMRF website, www.imrf.org, or by request from an IMRF Member Service Representative at 1-800-ASK-IMRF (1-800-275-4673). Local police and fire pension funds are not covered by the Act. Employer’s Cost 1. The additional benefit costs resulting from the conversion of Regular IMRF or SLEP service to ECO service will be charged to your ECO employer (your employer when you elected to participate in the ECO plan), even if the converted service was earned with a different employer. 2. Your employer may pass a resolution that requires you to pay both the member and employer cost for converting service credit to ECO. IMRF Form 6.06 (Rev. 02/08)
CONVERSION OF REGULAR OR SLEP SERVICE CREDIT TO ELECTED COUNTY OFFICIAL (ECO) SERVICE CREDIT For earnings previously reported to IMRF IMRF Form 6.06 (Rev. 02/08) Exhibit 6J Page 3 of 3 Avoid delays—read the instructions on the previous pages before completing this form PLEASE PRINT OR TYPE – USE BLACK INK MEMBER’S FIRST NAME MIDDLE INITIAL LAST JR., SR., II, ETC. SOCIAL SECURITY NUMBER __ __ __ __ __ __ __ __ __ Robert J. Doe 0 0 0 - 0 0 - 0 0 0 0 STREET (MAILING) ADDRESS CITY, STATE AND ZIP + 4 123 Birch Street Anywhere, IL 60000 DATE OF BIRTH TELEPHONE NO. OPTIONAL: ANTICIPATED RETIREMENT DATE July 14, 1947 (000) 000 -0000 NAME OF CURRENT IMRF EMPLOYER County of Anywhere 0 0 0 0 CURRENT POSITION IMRF EMPLOYER I.D. NUMBER FIRST DATE OF PARTICIPATION IN ECO PLAN County Auditor November 3, 1999 NAME OF COUNTY EMPLOYER WHEN YOU ELECTED TO PARTICIPATE IN ECO Anywhere PERIOD(S) OF PARTICIPATION (REGULAR SERVICE CREDIT) TO BE CONVERTED Enter the periods of employment you wish to convert to SLEP service credit. The date you opted into the ECO plan will determine what periods may be converted. Refer to item 3 under “Instructions for Completing...” to determine which Regular/SLEP service credit can be converted. COVERAGE PERIOD OR NAME OF IMRF EMPLOYER(S) TITLE OF OFFICE OR POSITION TERM OF OFFICE City of Anywhere Accountant 5/6/1987 to 10/31/1999 CERTIFICATION BY MEMBER: I hereby certify that, • I have previously participated or currently am participating in IMRF under the Elected County Official (ECO) plan and have submitted IMRF Form 6.21, “Election by Elected County Official to Participate in the Elected County Official Plan,” or 6.21B, “Election by Elected County Official to Participate in the Elected County Official Plan rev. on 1/26/00” • The service credit (contributions) covering employment periods listed above are currently on record with IMRF, and • I now request that you provide me with the cost to convert this service credit so it may be considered ECO service credit. x Signature of Member August 15, 2012 Date IMRF Form 6.06 (Rev. 02/08) Illinois Municipal Retirement Fund 2211 York Road, Suite 500, Oak Brook Illinois 60523-2337 Member Services Representatives 1-800-ASK-IMRF (1-800-275-4673) 7:30 a.m. to 5:30 p.m. www.imrf.org
Page 1 and 2:
Illinois Municipal Retirement Fund
Page 3 and 4:
Page 5 and 6:
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18: Illinois Municipal Retirement Fund
Page 44 and 45: This page intentionally left blank.
Page 50 and 51: Request For Rollover Approval for P
Page 52 and 53: Application for Military Service Cr
Page 54 and 55: IMRF will mail you a Past Service P
Page 58 and 59: Exhibit 6G - Page 2 of 3 “Instruc
Page 64 and 65: 3. Authorized Agent Certification S
Page 72 and 73: 1. Member Cost Mem bers whose emplo
Page 78 and 79: X NOTICE OF ENROLLMENT IN IMRF IMRF
Page 80 and 81: Exhibit 6O Page 2 of 4 If you are n
Page 82 and 83: Exhibit 6O Conditions of IMRF Desig
Page 84 and 85: • “PLAN” refers to either Reg
Page 90 and 91: Instructions EXHIBIT 6S Page 1 of 2
Page 100 and 101: EXPLANATION AND INCOME TAX INFORMAT
Page 102 and 103: How do you pay for the Leave Exhibi
Page 106 and 107: OUT-OF-STATE SERVICE CREDIT AUTHORI
Page 118 and 119:
A RESOLUTION RELATING TO PARTICIPAT
Page 120 and 121:
This page intentionally left blank.
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Limitation on Frequency • Employe
Page 130 and 131:
Page 132 and 133:
Page 134 and 135:
Page 136 and 137:
Page 138 and 139:
Page 140 and 141:
Page 142 and 143:
Page 144 and 145:
Page 146 and 147:
“How to pay...” continued from
Page 148 and 149:
Page 150 and 151:
Page 152 and 153:
Page 154 and 155:
Page 156 and 157:
Page 158:
show all

Section 6 - IMRF

Create successful ePaper yourself

Delete template?

Save as template?