Illinois Municipal Pensions: A Success Story
The Illinois Municipal Retirement Fund has reported a 95.8% funded ratio for 2024, making it one of the state's strongest pension systems.
Other Illinois plans can benefit from following IMRF's practices, which have led to a consistently high funding ratio, including 96.6% in 2023 and 107.2% in 2000.
The fund covers local government employers, with members working for school districts, counties, cities, villages, and other entities, offering three pension plans.
The IMRF’s Board of Trustees established a funding policy to “help ensure the systematic accumulation of assets needed to pay for future benefits.
- 95.8% funded ratio for 2024
- 96.6% funded ratio in 2023
- 107.2% funded ratio in 2000
Author's summary: Illinois Municipal Retirement Fund is a model for success.
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