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FPIF Statement on Kane County Litigation
The Kane County Circuit Court affirmed the constitutionality of Public Act 101-0610, which created the Firefighters’ Pension Investment Fund (FPIF) and the Police Officers’ Pension Investment Fund and directed the consolidation of downstate and suburban firefighter and police retirement investment assets. We appreciate Judge Robert Villa’s attention to the case. FPIF will continue to implement ... FPIF Statement on Kane County Litigation
2022 Trustee Election Schedule
The FPIF Elections Committee met on April 21, 2022 and approved the 2022 Trustee Election Schedule. The schedule can be found in the Policies and Publications heading on the FPIF website. Voters will elect a Participant Trustee, a Beneficiary Trustee and an Executive Trustee in 2022. Candidate applications will be made available on the FPIF ... 2022 Trustee Election Schedule
FPIF Rule Making Update
The FPIF Board of Trustees consolidated its rules and policies into a single document at its meeting on February 25, 2022. The Consolidated Rules can be found in the Publications section. Four amendments to the Consolidated Rules have been posted for 1st Public Notice on the Pending Rules page. The amendments will be considered for ... FPIF Rule Making Update
Trustee Election Rules Adopted
The FPIF Board of Trustees met today and approved the FPIF Trustee Election Rules. The Trustee Election Rules will govern the 2022 FPIF Trustee Election and all subsequent trustee elections. Voters will elect a Participant Trustee, a Beneficiary Trustee and an Executive Trustee on December 1, 2022. The FPIF Elections Committee will be meeting this spring to ... Trustee Election Rules Adopted
January Transfer of Assets
On January 4, 2022, the Firefighters’ Pension Investment Fund (“FPIF”) initiated the transfer of investment assets from 74 firefighter pension funds through its custodian, Northern Trust. Northern Trust will transition approximately $4.1 billion in investment assets in January, and FPIF is pleased to announce that the transition is being executed according to plan. To date, FPIF has successfully transferred $7 billion in ... January Transfer of Assets
Cost Savings
A critical policy objective of FPIF is to reduce the cost of investing Article 4 assets. FPIF now has the data to show that those goals are being met. In the October tranche, FPIF received $874 million in mutual fund assets and the fees on those assets ranged from 2 basis points to 160 basis ... Cost Savings
Actuarial Experience Study and Annual Financial Report
The FPIF Board of Trustees met on December 13, 2021 and approved the FPIF actuarial rate of return and the 2021 Actuarial Experience Study. The Board adopted an actuarial rate of return of 7.125%. The return assumption together with the other demographic and economic assumptions necessary for the preparation of actuarial statements can be found ... Actuarial Experience Study and Annual Financial Report
December Transfer of Assets
On December 1, 2021, the Firefighters’ Pension Investment Fund (“FPIF”) initiated the transfer of investment assets from 33 firefighter pension funds through its custodian, Northern Trust. Northern Trust has transitioned approximately $550 million in investment assets in December, and FPIF is pleased to announce that the transition is being executed according to plan. To date, FPIF has successfully transferred more than $2.8 billion in investment ... December Transfer of Assets
Actuarial Experience Study Presentation
The FPIF Audit and Compliance Committee met on November 12, 2021 and received a presentation from FPIF’s actuary, Foster & Foster, on the FPIF Assumed Rate of Return. Foster & Foster presented its initial review of possible actuarial return assumptions to the Committee. The Audit and Compliance Committee will meet on December 8, 2021 at ... Actuarial Experience Study Presentation
November Transfer of Assets
On November 1, 2021, the Firefighters’ Pension Investment Fund (“FPIF”) initiated the transfer of investment assets from 49 firefighter pension funds through its custodian, Northern Trust. Northern Trust has transitioned more than $650 million in investment assets in November, and FPIF is pleased to announce that the transition was executed according to plan. To date, ... November Transfer of Assets
October Transfer of Assets
October 1st Transfer of Assets On October 1, 2021, the Firefighters’ Pension Investment Fund (“FPIF”) initiated the transfer of investment assets from 75 firefighter pension funds through its custodian, Northern Trust. Northern Trust has transitioned nearly $1.6 billion in investment assets, and FPIF is pleased to announce that the transition was executed according to plan. ... October Transfer of Assets
Trustee John Perry Elected
Trustee John Perry The FPIF Board of Trustees and its staff welcomes John Perry (Treasurer, Lisle Woodridge Fire Protection District) to the FPIF Board of Trustees. The FPIF Election Panel certified the election of Treasurer Perry to the Executive Trustee Position (January 3, 2023 Term End) at its meeting on September 30, 2021. Treasurer Perry serves on the Lisle Woodridge ... Trustee John Perry Elected