IMRF Executive Director Louis W. Kosiba responds to recent articles released by the Illinois Policy Institute.
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IMRF takes its responsibility for securing your personal information very seriously. As an IMRF member, you should know that:
- Your IMRF account details were never exposed by the virus
- Your IMRF account is secure
- You do not need to change your IMRF account password
Governing—a magazine that covers politics, policy and management for state and local government leaders—recognizes IMRF as a "model of fiscal responsibility."
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State Rep. Deborah Conroy (D-Villa Park) has tabled a proposal to terminate the IMRF 13th payment. Tabled proposals are withdrawn from the legislative process and typically go no further.
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On March 25, IMRF Executive Director Louis W. Kosiba testified before the House Committee on Personnel and Pensions in opposition to House Amendment #1 to House Bill 3898, which would eliminate the 13th payment effective January 1, 2015, for all present and future annuitants:
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The Illinois House of Representatives Personnel and Pensions Committee on March 25 approved legislation that would terminate the 13th payment effective January 1, 2015, for all present and future annuitants.
House Amendment #1 to House Bill 3898 must pass through a number of additional steps to become law, however.
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The IMRF Board of Trustees Legislative Committee on March 24 voted to oppose House Amendment #1 to House Bill 3898, which would terminate the 13th payment for all present and future annuitants effective 1/1/15.
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A stronger economy and a continued bull market for stocks helped IMRF – the best-funded public pension plan in Illinois – earn approximately $5.4 billion in investment income in 2013. These earnings represent a 20 percent annual rate of return.
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On March 14, legislation was introduced to eliminate the IMRF supplemental benefit payment, also known as the 13th payment.
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Beginning on April 21, 2014, IMRF will present a series of Employer Rate Meetings throughout the state. At these meetings we will discuss the impact of year-end financial and actuarial data on IMRF as a whole and its estimated impact on individual employers.
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Executive Director Louis Kosiba responds to recent media coverage of the IMRF 13th Payment.
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IMRF invites qualified bids on the construction and implementation phase of a website replacement and content management system project scheduled for 2014. This request replaces a previous RFP issued in December, 2013.
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The Better Government Association recognized IMRF as part of its Good Government Spotlight series. The stories “showcase government employees, programs, agencies and organizations that reflect the BGA’s core values of government transparency, accountability, efficiency, and fair play for taxpayers and the community.”
The article is titled A Public Pension Plan That Works.
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The IMRF Board of Trustees met in December and discussed a number of topics, including the election of a new Executive Trustee, the appointment of 2014 Board officers, and more.
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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. Review report...
On December 5, Gov. Pat Quinn signed the pension reform bill into law, effective June 1, 2014. Read more...
Agriculture Investment Manager Search
IMRF is requesting proposals for Agriculture separate account managers, takeover managers and commingled fund products. Both domestic and international strategies will be considered. IMRF has at least $100 million to allocate, actual amount may vary. Read more...
IMRF named Mark F. Nannini, former Director of Finance and Treasurer for the City of Crystal Lake, as its new Chief Financial Officer (CFO) effective Jan. 1, 2014.
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Many millennials, those aged 18 years old to 31 years old, face financial challenges from student loans and an unstable job market. To help them regain financial footing and prepare for the future, IMRF encourages millennials – and other generations – to re-examine their saving strategies and retirement plans during National Save for Retirement Week, Oct. 20-Oct.26.
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At its September meeting, the IMRF Board of Trustees certified candidates for the upcoming Executive Trustee election:
- David C. Miller, Deputy Treasurer & Asst. GM for the North Shore Sanitary District.
- Sue Stanish, Director of Finance for the Naperville Park District.
Read the candidate's biographies...
On August 16, 2013, the governor signed House Bill 1351 into law as Public Act 98-0389.
This legislation changes the return-to-work rules for retirees to require re-enrollment when the actual hours worked exceed 599 or 999 hours, even if the position is not "normally expected" to exceed the hourly standard.
You can download a chart IMRF developed to explain how the new public act impacts a retiree's return to work.
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