Board certifies Trustee election results
The IMRF Board of Trustees certified the Executive Trustee election results.
Current IMRF Executive Trustee Tom Kuehne was unopposed in seeking a new five-year term of office. Kuehne's new term as Executive Trustee will run January 1, 2023, through December 31, 2027.
Kuehne has served on the IMRF Board since 2013. He was Board President in 2016 and Board Vice President in 2022. Kuehne is the Finance Director/Treasurer of the Village of Arlington Heights, IL.
Board appoints 2023 officers
The Board appointed the following officers for 2023:
- Tom Kuehne, President
- Peter Stefan, Vice President
- Louis Kosiba, Secretary
Executive Trustee Tom Kuehne has served on the Board since 2013. He works as the Finance Director/Treasurer for the Village of Arlington Heights. Employee Trustee Peter Stefan has been on the Board since January 2021. He is the Finance Director/Treasurer for the Village of Lake in the Hills. Annuitant Trustee Louis Kosiba has been on the Board since January 2021 and is the retired IMRF Executive Director.
Learn more here about your IMRF Board of Trustees.
Annual report on minority manager usage approved
The Board approved a report documenting IMRF's use of investment-management firms and brokers owned by minorities, women, or persons with disabilities. As of September 30, $11.8 of $45.6 billion in IMRF assets were managed by firms owned by minorities, women, or persons with disabilities. This represents 26% of the total IMRF investment portfolio across domestic equity, fixed income, international equity, private equity, and real estate asset classes. During the period of October 1, 2021, to September 30, 2022, IMRF allocated $490 million to minority-owned firms.
Since 2002, IMRF has increased its use of minority-owned investment managers. The assets managed by minority-owned firms has increased from $1.2 billion to $11.8 billion over a twenty-year period.
The IMRF Board of Trustees approves the submission of this report to the Illinois Governor and General Assembly as required by the pension code.
Board sets 2023 meeting dates
The Trustees set the following dates for 2023 Board meetings:
- January 12
- February 3
- March 31
- May 26
- August 25
- November 17
- December 15
Next Board meeting
The next regular meeting of the IMRF Board of Trustees will be Thursday, January 12 at 3 PM.