Arlington Heights Director of Finance and Treasurer Tom Kuehne was elected to the Illinois Municipal Retirement Fund (IMRF) board of trustees as an executive trustee. His five-year term began Jan. 1.
As the second largest public pension fund in Illinois, IMRF administers a plan of retirement, disability and death benefits for 3,000 municipal employers -- including park districts, villages and school districts (for non-teaching personnel) -- and covers approximately 175,000 active members and 100,000 retirees. At the end of 2012, IMRF had nearly $28 billion in assets and was 85.2 percent funded on a market basis (preliminary and unaudited). The plan does not receive any state funding.
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Members of IMRF's independent eight-member board of trustees serve without compensation in five-year staggered terms. The board includes four executive trustees elected by participating units of government, three employee trustees elected by participating IMRF members and one annuitant trustee elected by IMRF retirees.
Kuehne, a resident of Arlington Heights, Ill., previously served as director of finance and treasurer for Addison, Ill. and LaGrange, Ill. Kuehne holds a bachelor's degree in public administration and economics and a master's degree in public administration.
"Tom's background and financial experience in municipal government will greatly benefit our board of trustees during his tenure," said IMRF Executive Director Louis W. Kosiba. "IMRF continues to focus on long-term, diversified investments and locally funded, financially sound management to provide a sustainable retirement income for public workers who serve local units of government."