Board Meeting Highlights

Board Room
January 21, 2021

New Board members take oaths of office

The Board welcomed three new Trustees, who will serve 5-year terms, from January 1, 2021 to December 31, 2025. Gwen Henry was reelected as an Executive Trustee.

2021 Board Committees established

The Board set the following committees for 2021:


Benefit Review



Board honors retiring Chief Investment Officer Dhvani Shah

The Board passed a Resolution of Appreciation honoring Chief Investment Officer Dhvani Shah, who left IMRF in December.

Shah joined IMRF in December 2011. During her tenure, the IMRF investment portfolio grew from $24.8 billion on December 31, 2011, to $48.3 billion on November 30, 2020. In addition, IMRF’s funded status increased from 83% in December 2011 to 91% in December 2019.

Shah significantly diversified the $48.3 billion IMRF portfolio through numerous strategies, including the adoption of new international real estate investments, the launch of a directly funded private equity program, and the initiation and implementation of internally managed U.S. Equity portfolios.

"IMRF is a national leader in the public pension industry because of its deep commitment to excellence and continuous improvement," Shah said in a prior news release. "I’m proud of having been a part of this outstanding organization, and I look forward to watching its continued success in the future."

IMRF has released a Request for Proposal to find a search firm to assist in hiring a new IMRF CIO.

Next Board meeting

The next regular meeting of the IMRF Board of Trustees will be February 26 at 9 AM.