On June 10, 2025, the value of FPIF’s investment portfolio surpassed $10 billion for the first time. Strong performance in June carried the portfolio to a fiscal year-end market value of $10.3 billion. For the fiscal year ending June 30, 2025, the portfolio earned a 13.3% return, exceeding the policy benchmark of 12.9% and significantly ... FY 25 Investment Update
The FPIF Board of Trustees is pleased to announce the appointment of Karl Langhammer to the vacant Executive Trustee position. His appointment was approved at the Board meeting held on August 22, 2025. Karl brings extensive experience in fire service and pension fund governance. He has served as a Trustee on the Carol Stream Fire ... Executive Trustee Appointment
At its May 9, 2025 meeting, the Board of Trustees approved the Fiscal Year 2026 budget. The budget includes home office operating expenses of $4,136,446, a 3.8% decrease from the FY 2025 budget of $4,298,389. Projected investment management fees for FY 2026 total $16 million.
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.