Investing the Assets of Firefighter Pension Funds

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2024 Participant and Executive Trustee Election

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FPIF News

Quarterly Investment Update

For the quarter ending March 31, 2024, the FPIF investment portfolio returned 4.9%, net of fees, outperforming the policy benchmark of 4.5%. Marquette Associates, who serves as FPIF’s general investment consultant, has recorded an investment update for the quarter. The update and the March 31, 2024 Quarterly Investment Report can

MAY 10, 2024 BOARD OF TRUSTEES MEETING HIGHLIGHTS

The FPIF Board of Trustees met on May 10, 2024 and made investment decisions related to the private markets portfolio.  Private Markets Portfolio The board selected Townsend Group to serve as Real Assets Outsourced CIO, and Rock Creek Group to serve as Private Credit Outsourced CIO. FPIF has a 14% target allocation to Real Assets and a 7% target allocation to Private Credit. ... MAY 10, 2024 BOARD OF TRUSTEES MEETING HIGHLIGHTS

Trustee Election Update

Voters will elect two Participant Trustees and two Executive Trustees to a four-year term on December 2, 2024. The four-year term of office will run from January 2, 2025 through January 1, 2029. Ballots will be mailed to eligible voters on or before October 25, 2024. Election schedules are available on the Trustee Election page of website under ... Trustee Election Update

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.

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