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.
- Louis W. Kosiba, Annuitant Trustee, was formerly Executive Director for the Illinois Municipal Retirement Fund (IMRF).
- Tracie M. Mitchell, Employee Trustee, is an Emergency Communications Specialist for the Central IL Regional Dispatch Center.
- Peter J. Stefan, Employee Trustee, is Finance Director for DeKalb County.
2021 Board Committees established
The Board set the following committees for 2021:
Audit
- Tom Kuehne, Chair
- Peter Stefan, Vice Chair
- Natalie Copper
- Sue Stanish
Benefit Review
- Natalie Copper, Chair
- Tracie Mitchell, Vice Chair
- Tom Kuehne
- Peter Stefan
- Dave Miller
Investment
- Dave Miller, Chair
- Tom Kuehne, Vice Chair
- Gwen Henry
- Peter Stefan
- Sue Stanish
- Natalie Copper
- Tracie Mitchell
- Louis Kosiba
Legislative
- Sue Stanish, Chair
- Louis Kosiba, Vice Chair
- Natalie Copper
- Tracie Mitchell
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.