Changes to the IMRF Board of Trustees
Some changes to the membership of the IMRF Board of Trustees were announced at the February 21 Board meeting.
The February meeting marked the final Board meeting for both Executive Trustee Tom Kuehne and Annuitant Trustee Louis Kosiba. Kuehne retired from his position with the Village of Arlington Heights, and as a result was no longer eligible to serve as an Executive Trustee. Learn more here. At the Board meeting, Kosiba announced that he would step down as a Trustee at the end of February. Learn more here.
The Trustees have appointed Brian Townsend, Schaumburg Village Manager, to fill the Executive Trustee vacancy. Learn more here.
2026 Death and Disability Rates Approved
The Board approved death and disability contribution rates for 2026.
The 2026 average death benefit contribution rate will slightly decrease to 0.12% of employer payroll from 0.13% in 2025. Each employer rate is calculated based on the average age of its employees. The funds are used to pay death benefits for active members who die prior to retirement.
The 2026 disability benefit contribution rate will remain at 0.04% of employer payroll like in 2025. The rate is the same for all employers. The funds are used to pay temporary and total and permanent disability benefits.
IMRF's goal is to maintain a balance in the death benefit and disability benefit reserves equal to one year’s total payments.
Board completes first step of Triennial Planning Process
The Board of Trustees and senior leaders kicked off development of the 2026-2028 Strategic Plan by completing the first step of the formal strategic planning process.
This systematic process facilitates discussion and agreement between the Board of Trustees and management on the appropriate direction for the Fund.
The first step in the process is for the Board to affirm IMRF’s Mission, Vision, and Values. The Board affirmed IMRF’s existing Mission and Values, and a new Vision statement for the 2026-2028 Strategic Plan: “Driven by our commitment to excellence, we deliver financial security and peace of mind.”
Learn more about IMRF’s Mission, Vision, and Values.
The triennial planning process includes 11 additional steps, including completing a Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis; establishing measurable Strategic Objectives; and aligning IMRF’s operational Leadership Scorecard with those objectives. The process will culminate at the end of the year with the formal adoption and implementation of the 2026-2028 IMRF Strategic Plan.
Staff provides update on 2023-2025 Strategic Plan successes
Staff updated the Board on activities undertaken during the fourth quarter in support of the 2023-2025 Strategic Plan. Key successes within each of the Strategic Plan’s Key Result Areas (KRAs) included:
Financial Health
- Executed annual review of actuarial assumptions, with no adjustments deemed necessary.
Customer Engagement
- Published online content promoting registration for the new Member Access, as well as online FAQs and other resources to help users navigate the new site.
Operational Excellence
- Made substantial progress improving benefits processing levels.
Workforce Engagement
- Made substantial progress on multiple initiatives, including projects to improve IMRF’s workspace in Oak Brook and to assess our organizational Vision and Values.
Office Relocation Project
The Trustees approved execution of a lease agreement for a new IMRF office location in 2026. The new office space will be near IMRF’s current office in Oak Brook. IMRF will share additional details with members and employers closer to the time of the move.
New units of government join IMRF
The Board approved the participation of the following new employers:
- Pike County Water District #1
- Pittsfield Public Library District
Next Board meeting
The next regularly scheduled board meeting will be held Friday, March 28, at 9 AM at IMRF's Oak Brook office.