The Illinois Municipal Retirement Fund (IMRF) is public pension fund that administers retirement, disability, and death benefits for employees of local government in Illinois. Created by the Illinois General Assembly, IMRF began operating in 1941 with five original employers and $5,000 in assets. Today, IMRF serves more than 3,000 employers and manages about $52 billion in assets. With a funded status of 96.6%, IMRF is one of the best-funded public pension systems in the country.