Actuarial Statement Requirements
FPIF is required to prepare actuarial statements for pension funds created under Article 4 of the Illinois Pension Code. FPIF will prepare the annual actuarial statement for all Article 4 pension funds beginning with fiscal years that end on or after January 1, 2022.
FPIF actuarial statements are determined in accordance with Section 4-118 of the Illinois Pension Code. The section provides for the calculation a minimum required contribution. If desired, a pension fund, municipality or fire protection district may consult with its own actuary to provide funding in excess of the minimum required contribution.