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County projects higher employer pension costs; finance staff flags IMRF rate increase
Summary
Finance staff reported a preliminary IMRF employer-rate increase and higher budget pressure for the county general fund; Social Security/Medicare rates remain unchanged while insurance trust reinsurance premiums are expected to rise.
Melissa, county finance staff, told the finance committee Thursday that preliminary retirement contribution figures from the Illinois Municipal Retirement Fund (IMRF) show a material uptick in the employer rate that will increase county costs in fiscal 2026.
Melissa said the IMRF preliminary employer rate for one plan component (SLAP) rose from 12.18% in 2025 to a preliminary 16.53% for 2026; she said the regular IMRF rate is projected to change only slightly. She asked the committee to note that the IMRF…
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