The IMRF Board of Trustees met in May and discussed a number of topics, including the
Annual Actuarial Valuation Report and Gain/Loss Analysis, which found IMRF well funded despite market volatility.
At each monthly meeting of the Board of Trustees, IMRF's investment consultant presents a summary of the previous month's market and investment manager performance. The information presented in these reports is preliminary and subject to change.
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.
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.