The Madison County Board is opting out of the Illinois Municipal Retirement Fund (IMRF). A new state law signed by the governor earlier this month prohibits new county board members from taking part in the retirement program, and yesterday the Madison County Board voted unanimously to opt out.
Madison County Board Chairman Alan Dunstan added another measure to the resolution that all members currently participating to drop out, saving additional money for the county. Dunstan told the Big Z earlier this month it was the right thing to do:
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County Treasurer Kurt Prenzler, who is opposing Dunstan for the chairman’s post this fall, said the move should have been made before the state forced the county’s hand. A total of 19 county board members currently pay into the IMRF, but will stop those payments later this year. Those who have already paid in will receive their benefits, but no new county board members will be allowed to take part.