The FPIF Board of Trustees has announced the upcoming vacancy for a Participant Trustee position. Effective January 2, 2025, a vacancy will arise due to an insufficient number of qualifying candidates in the 2024 Participant Trustee election. In accordance with FPIF’s governing statute and board rules, the Board of Trustees is responsible for filling this ... Participant Trustee Vacancy Announcement
The FPIF Election Panel met December 9, 2024 to certify the 2024 Executive Trustee Election results. The election results are as follows: 145….David Pileski (Mayor, Village of Roselle) (certified winner) 144….Michael Troup (Mayor, City of Quincy) (certified winner) 77……Karl Langhammer (Treasurer, Carol Stream Fire Protection District) The trustees will serve a 4-year term beginning January 2, 2025. ... 2024 Executive Trustee Election Results
The Investments and Operations Committee met on December 5, 2024, and approved allocations to two Infrastructure Market Non-Core Funds: the Global Infrastructure Partners Fund V and the Stonepeak Partners Fund V. Each fund will receive an allocation of $40 million. FPIF has a target allocation of 4% to infrastructure.
As fiduciaries, the board of the Firefighters’ Pension Investment Fund (FPIF) is dedicated to prudently investing and managing the assets of Illinois firefighter pension funds. A nine-member Board of Trustees made up of four active firefighters, one retired firefighter and four employer representatives governs the fund. As fiduciaries, the trustees discharge their duties solely in the interest of the fund participants and beneficiaries.
The fund’s goal is to provide above-market returns at below-market costs. FPIF is acutely aware of the need for strong and persistent returns. We also acknowledge the challenging financial and market environments in which we live. Finally, every dollar we pay in costs is one less dollar firefighter pension funds have to pay benefits. The goals of strong returns and lower fees complement one another.
The board members of the FPIF are committed to clarity and transparency. While the Board of Trustees has fiduciary stewardship over the portfolio, the assets are pledged to the financial security of pension fund participants. We believe that our participants, as well as taxpayers, have a right to see the actions taken by FPIF.