Board Resolution 2025-03S-03

WHEREAS, section 7-198 of the Illinois Pension Code authorizes the Board of Trustees of the Illinois Municipal Retirement Fund to establish rules necessary or desirable for the efficient administration of the Fund; and

WHEREAS, section 7-186 of the Pension Code provides that the Board of Trustees will appoint an executive director to “manage the office and carry out the technical administrative duties of the fund;” and

WHEREAS, the Board of Trustees has adopted Resolution No. 2013-05-12, which establishes rules for purchasing goods and services necessary to administer the IMRF plan; and

WHEREAS, the Board of Trustees, in its purchasing rules, has authorized the executive director to approve purchases of up to $25,000 without Board action; and

WHEREAS, the Board of Trustees has approved a project to relocate the IMRF Oak Brook office; and

WHEREAS, the office relocation project is a time sensitive endeavor requiring flexibility on the part of IMRF and the ability to quickly handle purchases to keep the project on schedule; and

WHEREAS, delays in contract approval can result in significant timeline delays; and

WHEREAS, the Board of Trustees desires to give the executive director additional authority to approve purchases for the office relocation project; and

NOW THEREFORE BE IT RESOLVED that the Board of Trustees of the Illinois Municipal Retirement Fund does hereby grant to its executive director the authority to approve purchases and contracts directly related to the Workspace Improvement Project up to a maximum of $1,000,000. Purchases in excess of this limit must be approved by the IMRF Board of Trustees.

BE IT FURTHER RESOLVED that the executive director shall report all purchases made and contracts entered into pursuant to the authority in this Resolution to the Board of Trustees within twenty-four hours of the executive director’s approval.