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Indian Creek Township says IMRF employer rate rise will add about $2,000 to 2024 costs
Summary
Supervisor Ron McAnulty told trustees the IMRF employer contribution rose from 3% to 4.89%, which he estimated will increase township expenditures by roughly $2,000 for the year.
Supervisor Ron McAnulty told the board on Jan. 15 that the Illinois Municipal Retirement Fund (IMRF) employer contribution rate increased from 3% to 4.89% for the township.
"This will result in an approximate $2,000 increase to the township," McAnulty said, noting the change when reviewing administrative and budget items. The board did not vote on any offsetting budget adjustments during the meeting.
The announcement was part of routine financial updates at the start of the meeting. The board approved the regular monthly financial report later in the session, but McAnulty did not tie any specific new spending or savings measures to the IMRF change during the meeting minutes.
