Board Meeting Highlights

Board Room
August 31, 2017

IMRF ranks highly on customer service benchmarking study

IMRF ranked among the top 16% of North American public pensions in cost-effective customer service, according to a new report.

Kam Mangat, a Vice President with CEM Benchmarking, Inc., told the IMRF Board of Trustees that IMRF ranked highly in CEM’s recent analysis of 42 North American public pension systems. The study evaluates the operating costs and customer service performance of the systems. Highlights from the report include:

“You have been able to maintain lower costs despite higher transactions and a higher cost environment,” Mangat said. “It shows you are doing quite well relative to your peers.”  

Board provides Springfield an update on 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 update on executing 2017-2019 Strategic Plan objectives

IMRF Executive Director Louis W. Kosiba updated the Board on activities undertaken during the second quarter in support of the 2017-2019 Strategic Plan. Key successes within each of the Strategic Plan’s Key Result Areas (KRAs) included:

Financial Health KRA:

Customer Engagement KRA:

Workforce Engagement:

Operational Excellence:

Staff updates Board on pending legislation

The two bills that made up the Board’s 2017 Legislative Agenda were passed by the General Assembly, IMRF Legislative Liaison Bonnie Shadid reported, and have since been signed into law by the Governor.

No items to which the Board was opposed passed the General Assembly.

For more information on these and other bills that may impact IMRF, see IMRF’s website.

New units of government join IMRF

The Board approved the participation of the following new employers:

Next Board meeting

The next regular meeting of the IMRF Board of Trustees will be September 8 at 9 AM at IMRF’s Oak Brook headquarters. The Board will be in executive session for the discussion at this meeting.