Illinois Municipal Retirement Fund

The Illinois Municipal Retirement Fund (or IMRF) is a pension fund created in 1939 by the Illinois General Assembly for municipal employees in the U.S. state of Illinois. Since 1941, IMRF has provided employees of local governments and school districts in Illinois (with the exception of the City of Chicago and Cook County, Illinois) with a sound and efficient system for the payment of retirement, disability, and death benefits.

IMRF began operating in 1941 with 5 original employers and $5,000 in assets. At the end of 2013, IMRF had $33 billion in assets and was 96% funded in the aggregate on a market value basis. It administers benefits for about 400,000 members and retirees and almost 3,000 units of local government.

In 2009, IMRF received an Illinois Performance Excellence (ILPEx) Bronze Award for Commitment to Excellence, and in 2012 received an ILPEx Silver Award for Progress Toward Excellence.

Mission Statement

To efficiently and impartially develop, implement, and administer in a prudent manner programs that provide income protection to members and their beneficiaries on behalf of participating employers. (Source: (40 ILCS 5/7-102) (from Ch. 108 1/2, par. 7-102))