The FPIF is the statutory steward of over six billion dollars in pension assets for suburban and downstate firefighter pension funds.
Our duty is to harbor, protect, and invest the assets under our care, mindful of the fiduciary duty we have to firefighters, retirees, and their dependents.
The Board and staff are preparing for the transition of those assets, currently held by local firefighter pension funds across Illinois, into the FPIF portfolio. This transfer must be completed by June 30, 2022.
Prior to transfer, we are taking steps necessary to ensure the safekeeping of pension fund monies, and to provide transparency for participants, stakeholders, and the public.
Before any money is transferred rules, policies, and procedures will be in place to provide for its safe transfer. The process will be transparent, fully memorialized, and auditable.
Further, the Board will first need to adopt reasonable investment objectives to guide the process.
Finally, we will identify and retain the best and most secure investment professionals, auditors, and custodians to ensure the safekeeping of assets entrusted to the Board’s care.
This website will be regularly updated as this process proceeds.