IMRF Executive Director Louis W. Kosiba recently participated in an in-depth interview with WMIX-AM (Mount Vernon) News Director Jim Dalaviras.
The discussion covered many topics, including IMRF's outstanding investment returns, declining employer contribution rates, and IMRF's significant positive economic impact on the state of Illinois.
The IMRF Board of Trustees met in April and discussed a number of topics including an expected decrease in the average IMRF employer Regular Plan contribution rate for 2014.
On May 2, 2013, IMRF conducted a Rate Meeting webinar. Topics covered included:
- What IMRF's 2012 investment return means to employers'
funded status, reserves, and contribution rates
- The potential impact of year-to-date 2013 and future
- Proposed pension-related legislation
- Other forces impacting IMRF
If you were unable to attend the webinar, you can view a recording of the presentation. (You may need to submit registration information)
You can also view the slides.
A "pension reform" bill affecting active and retired members of the Illinois state-funded pension systems passed the House this afternoon. View the status of Senate Bill 0001 on the General Assembly website.
Nothing in this bill affects past or current IMRF members, however, some provisions would affect future (new) IMRF members ONLY.
The IMRF provisions in this bill would:
- Close participation for new employees of certain IMRF employers
- For new IMRF members, it would no longer allow unused, unpaid sick leave to be used for service credit at retirement
- For new IMRF members, exclude lump sum payments for sick or vacation payouts from reportable earnings for IMRF purposes
Read more in the Legislative Update email.
As it does each year the IMRF Board of Trustees gathered in Springfield to discuss IMRF face-to-face with members of the Illinois General Assembly. While in Springfield on April 17, Board members met with legislators to explain IMRF and to share IMRF's message of being locally funded and financially sound. This year, they were also able to meet with members of leadership in the General Assembly, including Speaker of the House Michael J. Madigan, Senate President John J. Cullerton, and Senate Republican Leader Christine Radogno.
It was a successful event and Board members heard many positive comments about IMRF from legislators.
IMRF was formally awarded its 2012 Illinois Performance Excellence (ILPEx) Silver Award for "Progress toward Excellence" at a March 22 recognition ceremony in Naperville. IMRF was one of only six organizations that received a 2012 award from ILPEx. These awards recognize leading Illinois organizations that contribute to the state's overall economic development and ethical competitiveness.