The Second District of the Illinois Appellate Court affirmed Kane County Circuit Court Judge Robert Villa’s ruling on the constitutionality of Public Act 101-0610, which created the Firefighters’ Pension Investment Fund (FPIF) and the Police Officers’ Pension Investment Fund. We appreciate the appellate court’s attention to the case. FPIF closed the Transition Period on ... FPIF Statement on the Appellate Court Opinion
The FPIF Board of Trustees held an organizational meeting on January 6, 2023. The board elected the following trustees as officers: Trustee Brad Cole was elected Chairperson. Trustee Chuck Sullivan was elected Vice Chairperson. Trustee Matthew Kink was elected Board Secretary. Trustee Greg Knoll was elected Treasurer. The board also appointed its committees. Committee schedules will be published ... January 6, 2023 Board of Trustees Meeting
The FPIF Board of Trustees met on December 16, 2022 and received a Report on the Statutory Transition Period. The report summarizes the history of FPIF from the effective date of Public Act 101-610 through the close of the transition period. The Board of Trustees also accepted its statutorily required Audit of the Transition of Investment Assets and ... Report on the Transition & Annual Comprehensive Financial Report
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.