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FPIF Rule Making Update
Two amendments to FPIF Rules have been posted for 1st Public Notice on the Pending Rules page of the FPIF website (link). The amendments may be considered for a 2nd Public Notice by the Audit & Compliance Committee at its meeting on July 18, 2024. Amendments approved for a 2nd Public Notice may be considered for adoption by the ... FPIF Rule Making Update
Participant Trustee Election Update
The candidate application for the Participant Trustee Election is now available on FPIF’s website [link]. Election Details: Voters will elect two Participant Trustees to serve a four-year term that begins January 2, 2025. Election Date: December 2, 2024. Eligibility: You must be an active-duty firefighter in continuing service with a Participating Pension Fund from the date of application to the election date. ... Participant Trustee Election Update
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
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
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
Statement Regarding Ruling by the Illinois Supreme Court
Statement Regarding Ruling by the Illinois Supreme Court Arlington Heights Police Pension Fund vs Jay Robert “JB” Pritzker January 19, 2023 This morning, the Illinois Supreme Court issued its opinion in the Arlington Heights case concerning the constitutionality of the pension consolidation law. I am delighted to report that the Illinois Supreme Court affirmed ... Statement Regarding Ruling by the Illinois Supreme Court
December 1, 2023 Board of Trustees Meeting Highlights
The FPIF Board of Trustees met on December 1, 2023. Highlights of the board meeting include the adoption of the FY 2023 Annual Comprehensive Financial Report, actions related to the private markets portfolio, and revisions to FPIF’s trustee election rules. Fiscal Year 2023 Annual Comprehensive Financial Report The board accepted its Annual Comprehensive Financial Report, and is pleased to ... December 1, 2023 Board of Trustees Meeting Highlights
FPIF Actuarial Statements
Actuarial statements are sent out to member funds on an ongoing basis, based on their respective fiscal year-ends. Article 4 funds are required to submit their annual statements to the Department of Insurance (DOI) within six months following their fiscal year-end, then FPIF seeks to transmit actuarial statements to the funds within thirty days of ... FPIF Actuarial Statements
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