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HomeMy WebLinkAboutRes 37-92 12/22/1992 /"" ILLINOIS MUNICIPAL RETIREMENT 100 South Wacker Drive - Chicago, Illinois 60606 312/346-~.. OMITTED SERVICE CREDIT AUTHORIZATION (See instructions on reverse side) /~ame of Applicant Social Security Address Of Applicant Street or Routs City, State, Zip Code 614 MEIER ROAD MT. PROSPECT IL 60056 Name of Current Retirement System Current Position Date began Participation in IMRF P/T SECRETARY Current System 9/7/89 Employer for Whom Sen, ice Was Rendered 690333 1 1 5_ OPTIONAL: Anticipated retirement date: I certify that the following statement of earnings for the above applicant are in agreement with the governmental unit's payroll records and represents the entire qualifying employment period determined by the governing body. Months of Creditable Service Months of Creditable Service Calendar With Without Calendar With Without Year Earnin,qs Earnin,qs Earnings* Year Eamin,qs Eamin,qs Earnin,qs* 1989 ~2~847.73 4 1990 $87430.27 12 1991 ~8~382.28 12 ~. DATE SIGNATURE OF AUTHORIZED AGENT RESOLUTION BY GOVERNING BODY 28 IIHnois Municipal Relirement Fund for membership. embfce~mmlamthe~eepe~of~s f C~RTIFICATION BY MEMBE. ]1 fully understand that under the Illinols Pension Code I h~ave the right to establish the entire qualifying period. This is to certify that I weer ~employed and received the above eernings from the above governmental unit from · through land; that I Q agree, of ~ disagree ( please send letter of explanation) with the period approved by the governmental unit's governing body. i2-22-q2. OMITTED SERVICE CREDIT AUTHORIZATION INSTRUCTIONS FOR USE WHEN TO USE THIS FORM: If the entire omitted period falls within the current calendar year or can be reported prior to February 15 of the following year, use IMRF Form 3.20, 'Employer's Report of Adjustments to IMRF Earnings.': If the entire omitted period does not fall within the currant year, the Authorized Agent should use this form, REQUIREMENTS FOR OMITTED SERVICE CREDIT: 1. The eervloe was rendered by an employee in a position qualified for IMRF membership. Do not apply for omitted service credit for members who are now in qualifying positions but ask for aredit for service they previously rendered in non-qualifying postions. if the member previously worked in a non-qualifying position that was properly classified as such, the member and position should not now be raslassified as qualifying. 2. The service was not previously reported to IMRF. The camings for this period may or may not have been reported for Social Security. 3. The applicant was not serving in a probationary position. See instructions on probationary positions in Section 3 of the Manual for Authorized Agents. 4. The service was rendered by the applicant after the date the governmental unit joined IMRF. Use Form 6.07, 'Application for Prior Service Credit." for eligible service rendered prior to the date the governmental uni~ joined IMRF. Refer to Form 6.07 for specific requirements. 5. The application and payment must be received by IMRF while the applicant is currently participating in IMRF or another retirement system covered by the Illinois Retirement Systems Reciprocal Act. 6. The omitted service resolution on the front of this form is adopted by the governing body, certified by the clerk or secretary. 7. The form is certified by the Authorized Agent and applicant. 8. The applicant pays IMRF contributions on the earnings and interest from the end of the omitted period. EARNINGS: Enter in the space provided on this form the annual gross earnings for the entire qualifying period, not previously reported for IMRF coverage. Service credit can only be granted in the month an employee worked and received payment. An exception to this rule will be made for seasonal employees or employees paid irregularly such as elected officials. EXAMPLE: An member hired on January 15, but first paid in February would not be entitled to service credit for January. SEASONAL LEAVE: The applicant may receive service credit for the periods without earnings provided the applicant: 1. was employed in a seasonal position, 2. had six consecutive months of earnings within a twelve month period, 3. remained in an employment relstionship during the seasonal leave period and the applicant received earnings after the leave period. If the applicant did not receive earnings after the seasonal leave period, please explain why and we will determine ~;hether service should be granted. SOCIAL SECURITY WAGE ADJUSTMENTS: if Social Security wages were also omitte~, see Section 4 of the Manual for Authorized Agents. PAYMENT OF CONTRIBUTIONS AND INTEREST: IMRF will mail to the applicant a Past Service Payment Schedule which offers two payment plan options for establishing the past service. Option I is the Lump Sum Payment Plan and Option II is the Unit Payment Plan. The Lump Sum Payment allows appli- cants to pay the total cost with a single payment and purchase all past service at once. The Unit Payment Plan allows applicants to purchase one or more months at a time. Applicants may pay as often as they like, buying back credit from the latest month to the earliest month of eligible service. However, they may not buy more months than indicated on the Past Service Payment Schedule. INFORMATION FOR APPLICANTS UNDER THE RECIPROCAL ACT: A minimum of 12 months of service Credit with any single reciprocal pension system is required by the Illinois Retirement Systems Reciprocal Act. Smaller amounts of service with any one system will not be counted in the computation of a reciprocal pension. A list of the 13 systems covered by the Act are listed in Section 5 of the Manual for Authorized Agents. Local police and fire pension funds are not covered by the Act. PENSIONS ESTIMATES: Applicants who want to know how the omitted service will affect their pension, should wait until they receive the Past Service Payment Schedule and decide how many months of service to pumhase. Then they can write or call their current system for a pen- sion estimate. EMPLOYER'S COST: The governmental unit's contribution for omitted service is made through future contribution rates. Therefore. a separate payment is not required. The actuary will take the omitted service into account when annually determining the employer contribution rate. This is the rate shown on IMRF Form 3.1(~, "Monthly Deposit Report." IMRF Form 6.05 (Rev. 3/88)