Investing the Assets of Firefighter Pension Funds

Providing Security and Adding Value

Contact Us

Investment Reports

Latest Portfolio Performance

View Reports

Annual Comprehensive Financial Report

Fiscal Year 2023


Account Representatives

Roles and Responsibilities

Account Representatives


Account Access and Cash Management Resources

View All Forms


Participating Pension Fund Cash Management

FPIF has regularly received inquiries from member funds regarding cash management and the appropriate amounts of cash to keep in their local account.  On February 8, 2024, the Illinois Department of Insurance (DOI) issued a Siren regarding Money Market Mutual Funds, but also addressing limits to the amount of cash and similar assets that should ... Participating Pension Fund Cash Management

Quarterly Investment Update

FPIF will now publish recorded investment updates on its website following the end of each quarter. Marquette Associates, who serves as FPIF’s general investment consultant, has recorded an investment update for the 4th quarter of 2023. The update and the December Investment Performance Report can be found under the Investments heading on the FPIF website ... Quarterly Investment Update

February 2, 2024 Board of Trustees Meeting Highlights

The FPIF Board of Trustees met on February 2, 2024 and made investment decisions related to both the private and public markets portfolios.  Private Markets Portfolio The board selected Adams Street Partners to serve as private equity outsourced CIO, and approved commitments to the Pomona Capital XI secondaries fund. FPIF has a 10% target allocation to private equity investments. Adams ... February 2, 2024 Board of Trustees Meeting Highlights

FPIF Is a Fiduciary: Why That Matters

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.

Investment Returns and Costs

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.

Maximum Clarity and Transparency

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.

More About Us