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AUGUST 25, 2023 Board of Trustees Meeting Highlights

The FPIF Board of Trustees met on August 25, 2023. Highlights of the board meeting included a presentation on FPIF performance relative to Article 4 pension fund benchmarks and an educational presentation on private markets.  FPIF Performance Relative to Article 4 Pension Fund Benchmarks The board received a presentation on FPIF investment performance relative to benchmarks for Article ... AUGUST 25, 2023 Board of Trustees Meeting Highlights

FY 23 Investment Performance

In July, the FPIF portfolio hit something of a milestone, it was the first time our portfolio value exceeded $8 billion.  FPIF’s assets have grown due to portfolio performance and due to positive cash flow from our member funds. For the year ending June 30, 2023, on a preliminary basis, the portfolio generated a return ... FY 23 Investment Performance

May 26, 2023 Board of Trustees Meeting Highlights

The FPIF Board of Trustees met on May 26, 2023. Highlights of the board meeting included the selection of a private markets consultant and the approval of the fiscal year 2024 budget.  Private Markets Consultant  Meketa Investment Group was selected to serve as a private markets consultant to assist FPIF with its long-term target allocation of 31% to private market ... May 26, 2023 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.

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