Board of Trustee Committees

The IMRF board of Trustees has many responsibilities including approving IMRF's administrative budget, authorizing employer contribution rates, adopting actuarial assumptions and appointing the IMRF actuary and IMRF investment counsel.

In addition, the board has established several committees to review and research various topics.

Audit Committee

Benefit Review Committee

Investment Committee

Legislative Committee

Audit Committee

The Audit Committee was established in 2002 and meets twice a year. The audit committee functions as a communications link between the Board of Trustees, the outside auditors, the internal auditor, and IMRF senior management.

2008 Audit Committee:

Tom Ross, Chair
Martha Rademacher
Jim Rasins

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Benefit Review Committee

The Benefit Review Committee was established in 1987 and meets monthly. When a member applies for a benefit and is denied that benefit, the member can appeal the denial. Although the full Board of Trustees makes a final decision whether to uphold or reverse the denial, the Benefit Review Committee hears the appeal. This committee acts as a fact-finder and administrative judge. It reports its findings to the full board and recommends whether a denial should be upheld or reversed.

2008 Benefit Review Committee:

Martha Rademacher, Chair
Max Bochmann
Ruth E. Faklis
Marvin Shoop, Jr.
Judi Voller

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Investment Committee

The Investment Committee meets on as as-needed basis. Committee members review investment mattes with IMRF investment staff and consultants and then make recommendations to the full board for final decision. Read the Investment Committee Charter.

This committee's duties include:

• Providing guidance to IMRF investment staff and consultants during the initial phases of the annual strategic asset allocation meetings
• Reviewing the asset allocation (investment) plan prior to formal presentation to the full board
• Participating in preliminary interviews of potential investment managers (outside investment firms)
• Reviewing investment policies and guidelines with IMRF investment staff and consultants
• Reviewing investment manager (outside investment firms) performance

  2008 Investment Committee

  Jim Rasins, Chair
  Max Bochmann
  Martha Rademacher
  Marvin Shoop, Jr.
  Sharon U. Thompson
  Judi Voller

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Legislative Committee

The Legislative Committee meets periodically as needed. The committee provides an important contact between IMRF and its members with the General Assembly. Committee members may meet with key legislators to discuss legislative proposals endorsed by IMRF.

The Legislative Committee also:

• Makes proposals to improve IMRF benefits and to develop administrative/statutory changes which enhance staff efficiency and productivity
• Plays a critical role in setting the legislative agenda, strategy and goals and provides guidance to the IMRF legislative liaison
• Reviews proposals made by employee and employer groups.

  2008 Legislative Committee

  Sharon U. Thompson, Chair
  Max Bochmann
  Ruth E. Faklis
  Jim Rasins
  Tom Ross
  Marvin Shoop, Jr.
  Judi Voller

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