Illinois Municipal Pensions: A Success Story
The Illinois Municipal Retirement Fund has reported a 95.8% funded ratio for 2024, making it one of the state's strongest pension systems.
Other Illinois plans can benefit from following its practices, which have led to a consistent funding ratio success, with 96.6% in 2023 and 107.2% in 2000.
- 51.3% of members work for school districts
- 15.5% for counties
- 10% for cities
- 7.8% for villages
The fund's Board of Trustees established a funding policy to "help ensure the systematic accumulation of assets needed to pay for future benefits."
The Illinois Municipal Retirement Fund's success is a comeback story for the state, offering a model for other public retirement systems to follow.
Author's summary: Illinois Municipal Retirement Fund reports 95.8% funding ratio.
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