IMRF is Safe

A message from IMRF Executive Director Louis W. Kosiba
October 7, 2008

Recent events in our financial markets have been unprecedented. Failures on Wall Street, the passage of the Emergency Economic Stabilization Act, and the drop in the markets have many members concerned about IMRF.

Let me assure you that IMRF is secure. Although our investments have lost some value (as did anyone with a 403(b), 457 or 401k plan), IMRF still has more than $19 billion in assets. Our broadly diversified approach to investing and our long-term investment perspective is helping protect IMRF from catastrophic losses.

If you are receiving an IMRF pension, you will continue to receive your monthly benefit payments in full and on time. Period.

If you are currently making contributions to IMRF or if you have contributions on deposit with IMRF, your money is safe.

The 2000 to 2003 period presented similar challenges. During those years, the value of our assets dropped more than 20%; it took only four years to grow our assets back to their pre-2000 value.

Like every market cycle we have experienced, I expect conditions will improve over time. For more than 65 years, IMRF has protected our members' retirement benefits and worked to keep employer rates consistent. We will continue to do so during this economic cycle.

Please continue to check www.imrf.org for updates.

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