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… READ MORE
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… READ MORE
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… READ MORE
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… READ MORE
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… READ MORE