Board Meeting Highlights

Board Room
September 8, 2015

IMRF a Leader in Cost-Effective Customer Service, Study Shows

IMRF ranked among the top 15% of North American public pensions in cost-effective customer service, according to a new study.

Rogier Slingerland, a partner with CEM Benchmarking, Inc., told the IMRF Board of Trustees that IMRF earned high marks in CEM’s recent analysis of 44 public pension systems in the United States and Canada. The study evaluates the operating costs and the customer service performance of the systems. Highlights from the report include:

IMRF Deputy Executive Director Dan Duquette said that staff is in the process of analyzing the study’s findings with an eye towards implementing additional customer service improvements.

Board Highlights Illinois-Based Investments

The Board approved the submission of an annual report to Gov. Bruce Rauner and the General Assembly that documents IMRF investments made in Illinois. Highlights from the report include:

Staff Provides 2Q Strategic Objectives Update

IMRF Executive Director Louis W. Kosiba updated the Board on activities completed during the second quarter in support of IMRF's 2014-2016 Strategic Plan. Highlights from the report include:

  1. Financial Health and Sustainability Key Result Area
    Result: Staff completed the 2014 Comprehensive Annual Financial Report
  2. Investment Returns Key Result Area
    Result: The Board approved allocations totaling $200 million to four value-added real estate funds.
  3. Customer Service and Operational Excellence Key Result Area
    Result: Two IMRF staff members volunteered to serve as Illinois Performance Excellence (ILPEx) Examiners, increasing IMRF's pool of staff with excellence-oriented expertise.
  4. Workforce Engagement Key Result Area
    Result: Executed activities from an organization-wide action plan aimed at enhancing inter-departmental relationships.
  5. Modernization Program Key Result Area
    Result: Began User Acceptance Testing of new technology aimed at increasing customer service levels.

Board Hears Legislative Update

IMRF Legislative Liaison Bonnie Shadid told that Board that three of the bills from IMRF's 2015 Legislative Agenda have been signed into law:

The General Assembly passed the other bill that made up the Board’s 2015 Legislative Agenda, however, Gov. Rauner ultimately vetoed the bill:

IMRF to Review and Update Board Resolutions

IMRF General Counsel Kathy O'Brien informed the Board that staff had begun a project to review, and if necessary update, all current Board resolutions.

The Illinois Pension Code empowers the Board to pass resolutions to establish rules for the administration of IMRF. Several years ago, IMRF staff reviewed, organized, and categorized all prior Board resolutions, O'Brien said, and it is now time to do so again. Resolutions in need of updating will be brought to the Board in groups over the course of the next several Board meetings.

At this meeting, the Board approved new and updated resolutions related to Board elections and the Freedom of Information Act.

You can learn more about IMRF rules and regulations on The website includes a Board Policy Index within the "Forms and Publications Archive."

New IMRF Employers

The Board approved the participation of the following new IMRF employers:

Next Board Meeting

The next regularly scheduled Board meeting will be held November 20 at IMRF's Oak Brook headquarters.