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Trustees record nays on motion to count IRC Section 125 compensation as IMRF earnings
Summary
A motion to include compensation paid under an IRC Section 125 plan as IMRF earnings (Resolution 2026-16) was moved and seconded but the transcript records voting 'Nay' by the trustees listed; the transcript does not show a recorded passage.
On March 25 the board considered Resolution 2026-16, a proposal to include compensation paid under an Internal Revenue Code Section 125 plan as Illinois Municipal Retirement Fund (IMRF) earnings. Admin Chairman Owen Costanza moved the resolution and Trustee David Allgood seconded.
The meeting record states "Voting Nay" and lists Admin Chairman Owen Costanza, Finance Chairman Jeff Goings, Trustee David Allgood, Trustee Dan Cheek, Trustee Sinae Hubbard and Trustee Mark Vance. The transcript therefore records the trustees as voting against the motion; no passage of the resolution is recorded in the provided transcript. The record does not include any additional debate text or rationale for the votes.
Because the transcript describes the votes as "Voting Nay" by the trustees listed, this article treats the measure as not adopted based on the meeting record. The clerk or staff packet should be consulted for an official minute entry and to confirm whether a clerical mistake in the transcript altered the recorded vote language.
