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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
FY 23 Investment Performance
In July, the FPIF portfolio hit something of a milestone, it was the first time our portfolio value exceeded $8 billion. FPIF’s assets have grown due to portfolio performance and due to positive cash flow from our member funds. For the year ending June 30, 2023, on a preliminary basis, the portfolio generated a return ... FY 23 Investment Performance
May 26, 2023 Board of Trustees Meeting Highlights
The FPIF Board of Trustees met on May 26, 2023. Highlights of the board meeting included the selection of a private markets consultant and the approval of the fiscal year 2024 budget. Private Markets Consultant Meketa Investment Group was selected to serve as a private markets consultant to assist FPIF with its long-term target allocation of 31% to private market ... May 26, 2023 Board of Trustees Meeting Highlights
FPIF Statement on the Appellate Court Opinion
The Second District of the Illinois Appellate Court affirmed Kane County Circuit Court Judge Robert Villa’s ruling on the constitutionality of Public Act 101-0610, which created the Firefighters’ Pension Investment Fund (FPIF) and the Police Officers’ Pension Investment Fund. We appreciate the appellate court’s attention to the case. FPIF closed the Transition Period on ... FPIF Statement on the Appellate Court Opinion
January 6, 2023 Board of Trustees Meeting
The FPIF Board of Trustees held an organizational meeting on January 6, 2023. The board elected the following trustees as officers: Trustee Brad Cole was elected Chairperson. Trustee Chuck Sullivan was elected Vice Chairperson. Trustee Matthew Kink was elected Board Secretary. Trustee Greg Knoll was elected Treasurer. The board also appointed its committees. Committee schedules will be published ... January 6, 2023 Board of Trustees Meeting
Report on the Transition & Annual Comprehensive Financial Report
The FPIF Board of Trustees met on December 16, 2022 and received a Report on the Statutory Transition Period. The report summarizes the history of FPIF from the effective date of Public Act 101-610 through the close of the transition period. The Board of Trustees also accepted its statutorily required Audit of the Transition of Investment Assets and ... Report on the Transition & Annual Comprehensive Financial Report