Board Meeting Highlights

Board Room
January 3, 2024

Board certifies Trustee election results

The IMRF Board of Trustees certified the results of the recent Executive Trustee and Employee Trustee elections.

Sue Stanish was re-elected Executive Trustee. She has served on the IMRF Board since 2014 and is the Director of Finance for the Naperville Park District. Learn more about Trustee Stanish.

Incoming Trustee Douglas Cycholl was unopposed in the Employee Trustee election. He is the Fire Hydrant Foreman for the City of Springfield. Learn more about incoming Trustee Cycholl.

Board Thanks Outgoing Trustee for Service

The Board passed a resolution honoring outgoing Employee Trustee Jeffery A. Stulir for his service to IMRF’s membership.

“All of our stakeholders thank you for your service, especially the 175,000 active members you represent, “ IMRF Board President Tom Kuehne said at the meeting.

Learn more about Trustee Stulir.

Board appoints 2024 officers

The Board appointed the following officers for 2024:

Employee Trustee Stefan has served on the Board since 2021, and he is the Finance Director/Treasurer for the Village of Lake in the Hills. Annuitant Trustee Kosiba has been on the Board since 2021 and is the retired IMRF Executive Director. Executive Trustee Stanish has been on the Board since 2014 and is the Director of Finance for the Naperville Park District.

Learn more here about your IMRF Board of Trustees.

Approval of minority manager usage report

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, $12.8 of $48.9 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 the real estate asset classes. During the period of October 1, 2022, to September 30, 2023, IMRF allocated $476 million to minority-owned firms.

Since 2002, IMRF has increased its use of minority-owned investment managers. The assets managed by minority-owned firms increased from $1.2 to $12.8 billion during this 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 2024 meeting dates

The Trustees set the following dates for 2024 Board meetings:

All Board meetings are open to the public and held at IMRF’s Oak Brook office.

New employers 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 Friday, February 23, 2024 9 AM.