02-393 M OUT-OF-STATE CREDIT AUTHORIZATION Resolution 02-393
R IMRF Form 6.33 (Rev. 3/93)
F
INSTRUCTIONS AND REQUIREMENTS ON REVERSE SIDE
PLEASE PRINT OR TYPE
Member's Last Name First Middle Initial Social Security Number
v-Yi eme✓S rlr-,C A 1.&w 4 z-t 4-WO - I`- 62s-3
Present Position Current Position
Current Employer Name Employer Number
Chi c ('Z - (State SSA Number) 69.033.3 1
Certification by Member .
I certify that I was an employee of C i. i cic rQOC ale.Name of Local Gove
rnmen
\O9 ta.4.A.C3 from Ap,;-► t. P 1 at 1°t to ` LCc e -bc'v 4) 1°19 2
Name of State _ Dais Date
in the position(s)of SCM Li.Cc.SL. ,n45 Cs G--ttn.r
such service having been covered under -?(AAACa Q --+ i leu14- 4vá
Name of Public Employee Pension System
whose address is 1 t I f'10,i4 tOLvt d Avent,c0 . VC1LA)LcLe. fr1 1) 20250
Street City State Zip Code
and that I have irrevocably forfeited all service credits in said pension system and am not entitled to benefits of any type therefrom.I
understand that no service credit will be established under the Illinois Municipal Retirement Fund until I have made the required
payment to IMRF.
I o -- IS-- 0 2.- (YY) (Yi'1-j- <3 4-7 - 9 3 t - 42t 7--7 Date Member's nature Member's Daytime Telephone No.
Certification by Clerk or Secretary of Governing Body .
I certify that a regular or special meeting held on 12/18/02 ,the City Council -
Date Name of Governing Body
of Elgin, Illinois authorized the granting of service credits for out-of-state service with
Name of Governmental Unit
the out-of-state governmental unit named herein from 4/3/89 to 12/4/92 (not to exceed 120
Date Date
months for the above named member).
December 19, 2002 Dolonna Mecum /
Date Clerk or Secretary Signature
Illinois Municipal Retirement Fund
Suite 500, 2211 York Road, Oak Brook Illinois 60521-2374 708/368-1010
IMRF Form 6.33 (Rev. 3/93) Service Representatives 800/ASK-IMRF
<0 OF E4c,
(J Otis Agenda Item No
K.,114her„,,Y) City of Elgin
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November 29, 2002 I Viii
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FINANCIALLY STABLE CITY GOVESMIMENT
EFFICIENT SERVICES,
TO: Mayor and Members of the City Council AND QUALITY INFRASTRUCTURE
FROM: Olufemi Folarin, Interim City Manager
SUBJECT: Prior Service Authorization
PURPOSE
The purpose of this memorandum is to provide the Mayor and
members of the City Council with information to consider out-of-
state service credit relating to retirement provisions for
Monica Meyers .
BACKGROUND
Monica Meyers has worked for the City of Elgin since 1992 .
Prior to that Ms . Meyers worked for the State of Maryland from
1989 to 1992 . IMRF provisions allow an employee the option of
purchasing out-of-state service credit, thus enabling the
employee the opportunity to increase IMRF pension benefits. If
Ms. Meyers elects to purchase the entire out-of-state service in
2002, she will be responsible to pay $32, 050 . The City has, in
the past, allowed other employees the opportunity to purchase
out-of-state service credit .
COMMUNITY GROUPS/INTERESTED PERSONS CONTACTED
None.
/FINANCIAL IMPACT
The City' s contribution is made through future contributions and
no immediate payment is required. Should Ms . Meyers elect to
purchase the past service, the maximum cost to the City will be
0 . 12% in future pension fund contributions or approximately
$172, 000, amortized over a twenty (20) year period. The current
IMRF pension contribution rate is 7 . 50% .
Subject Prior Service Authorization
Date November 29, 2002
Page 2
LEGAL IMPACT
1\44Tone.
ALTERNATIVES
1. The City Council could deny the request .
RECOMMENDATION
It is recommended that the City Council approve the IMRF out-of-
state service credit for Monica Meyers.
Respectfully submitted,
0 j„,,„,‘.
Olufemi Folarin
Interim City Manager
NAO/mgh
Attachment