Russian divestment
The Board passed a resolution authorizing staff to complete the orderly and prudent divestment of any remaining Russian investments, in a manner consistent with staff’s fiduciary duties and with the goal of reducing risk and potential loss to the IMRF portfolio.
As of March 9, IMRF held approximately $23 million in Russian investments, representing about 0.04% of the total portfolio.
“The IMRF Board condemns the actions taken by Russia and applauds the multitude of global responses in the form of humanitarian aid and sanctions,” according to an excerpt from the resolution.
Board hears update on cybersecurity
The Board heard a cybersecurity report from Mark Chevchek, IMRF’s Chief Security Officer.
IMRF places a high priority on cybersecurity. Our goal is to ensure cyber resiliency, promote risk-awareness, and protect the information of our members and employers. IMRF has adopted the NIST cybersecurity standards to monitor our security posture.
Over the course of the last year, IMRF has made several improvements including partnering with a cybersecurity vendor to ramp up our security capabilities, updating our cybersecurity goals and objectives, and implementing enhanced staff training to reduce risk. In the future, IMRF will continue to implement new technologies, monitoring tools, and train staff to assure our continued cyber resilience.
Next Board meeting
The next regularly scheduled Board meeting will be held Friday May 27, at 9 AM.