Annual IMRF reports shows lower-than-expected returns

Apr 20, 2015

The annual Illinois Municipal Retirement Fund report shows investment returns were six percent last year, down 1.5 percent from the anticipated mark. Louis Kosiba is the Executive Director of the agency. He says IMRF remains strong and sustainable: 

 “But over the long term, with Tier II and with 2008 further and further in the rear view, things are looking pretty bright and pretty solid.” 

 Kosiba says 2014 was challenging but they don’t have the underfunding issues of the five state funded systems. IMRF is the retirement, disability and death benefits system for people who work for units of local government.