Lou's Road to Retirement - A Noteworthy Journey
June 14, 2017
On Sunday, December 31, our longtime leader officially joins the ranks of thousands of former workers across Illinois; earning a brand new title, IMRF Annuitant.
This year, New Year’s Eve will deliver a historic ending and a new beginning for IMRF. Beyond the countdowns, fireworks, noisemakers, sparkling beverages, and lifestyle resolutions, our team will be celebrating a major milestone for one of our most dedicated employees, Executive Director Louis W. Kosiba.
On Sunday, December 31, our longtime leader officially joins the ranks of thousands of former workers across Illinois; earning a brand new title, IMRF Annuitant.
I am looking forward to my retirement, but more importantly, I'm excited about working to ensure that there is a smooth transition for whomever takes my place. I will be focusing on the transition and ensuring our Journey of Excellence continues.
- Louis Kosiba, IMRF Executive Director
With a law degree and MBA from the University of Illinois at Urbana-Champaign and an impressive career in tow, this native Chicagoan began his IMRF career in 1988. Originally, he worked with IMRF’s Field Representatives and helped launch valuable organizational initiatives. Before long, the Board of Trustees appointed him to the prestigious General Counsel position, where he served from 1990 to 2001. He was one of the founders of the National Association of Public Pension Attorneys (NAPPA), and has served on its board of directors.
In his first year as Executive Director in 2001, fallout from an international financial crisis gave IMRF one of its lowest return numbers since 1982. Since then, through highs and lows, IMRF has experienced exponential growth, exceeding its annual investment return goal 10 times with Kosiba at the helm. Today, with $36.3 billion in assets and a funded status of 88.3%, IMRF is the best-funded statewide public pension in Illinois.
During his tenure, Kosiba also placed an emphasis on customer service and continuous improvement, and today, IMRF is widely recognized as a national leader in the public pension industry. IMRF is a three-time recipient of an award from Illinois Performance Excellence, most recently in 2014 when IMRF earned a Silver Award for "Progress towards Excellence."
Currently ranked as the 47th largest retirement plan in the United States, IMRF is financially sound and lauded as a leader among pension plans. With his vision and commitment to continuous improvement and quality, we are delighted to express our gratitude to Kosiba for his leadership and dedication, and for helping make IMRF synonymous with industry excellence.
Congratulations, on your retirement, Lou. Thank you for a job, well done.