301 Budget Blueprint: Part 5

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đź“° 301 Budget Blueprint: Understanding the IMRF/Social Security Fund (Fund 50)

As part of our ongoing 301 Budget Blueprint series, we’re taking a closer look at the Illinois Municipal Retirement Fund (IMRF) and Social Security Fund, known in our budget as Fund 50.

This fund plays a critical role in making sure the employees who keep our district running day in and day out receive the retirement and benefits support they’ve earned. While teachers are covered through the Teacher Retirement System (TRS) that is included in the Education fund, teachers’ Medicare is included in Fund 50. A majority of Fund 50 covers non-certified staff — including:

  • Administrative assistants, paraprofessionals, non-certified nurses
  • Directors
  • Maintenance, custodial and grounds teams
  • Food service workers
  • Bus drivers, mechanics and bus aides
  • Technology 
  • Other essential support personnel

What’s Included in Fund 50?

  • IMRF (Illinois Municipal Retirement Fund) contributions
  • FICA (Social Security) contributions
  • Medicare payments for all district employees

Where Does the Money Come From?

  • Local property tax levy
  • Interest income
  • Corporate Personal Property Replacement Tax (CPPRT)

These funds are legally required and help Central 301 remain compliant while caring for the people who support our students every day.

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