OAK BROOK, Ill. -- Feb. 5, 2014 -- The Illinois Municipal Retirement Fund (IMRF) named a new president, vice president and secretary this year, and welcomed a new executive trustee to the board.
IMRF, the best-funded and second-largest public pension plan in the state, appointed Employee Trustee Natalie Copper, a school-age child care site coordinator at Dawes Elementary School District 65, as president of its board of trustees. Copper, an Evanston resident, served as vice president last year and secretary in 2012.
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Employee Trustee John Piechocinski, head custodian for the Plainfield Community Consolidated School District 202, was named the board's vice president. The Plainfield resident served as secretary last year and has been an employee trustee since 2011.
Executive Trustee Tom Kuehne, a resident of Arlington Heights, was named the board's secretary. Kuehne, finance director and treasurer for the Village of Arlington Heights, has served as executive trustee since 2013.
IMRF administers a plan of retirement, disability and death benefits for nearly 3,000 municipal employers--including towns and villages, libraries and park districts, and counties and school districts (non-teaching personnel)--and covers about 400,000 members and retirees. At the end of 2013, IMRF had more than $33 billion in assets and was 96 percent funded. IMRF does not receive any state funding.
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.
IMRF adds new executive trustee
IMRF employers recently elected a new executive trustee, Sue Stanish, director of finance for the Naperville Park District.
Stanish, a resident of Channahon, began her five-year term on the board as executive trustee at the start of the year.
"I look forward to working with Trustee Stanish as we continue to ensure a stable retirement for our members," said IMRF Executive Director Louis W. Kosiba. "Our trustees will work together to make sound financial judgments, pursue our goal of being 100 percent funded and continue to provide a sustainable retirement income for public workers in local units of government."
The Board of Trustees also appointed Evanston resident William Stafford -- last year's IMRF board president -- to fill a board vacancy. Stafford, whose original term of office expired on Dec. 31, 2013, will remain in this role until Dec. 31, 2014. IMRF will hold an election this fall to fill this executive trustee position in 2015.
A full list of IMRF's board of trustees appears on IMRF's website: http://www.imrf.org/board/board_homepage.htm.
The Illinois Municipal Retirement Fund (IMRF) was created by the Illinois General Assembly. Since 1941, IMRF has partnered with local units of government to provide retirement, disability and death benefits for public employees. With a funded status of 96 percent and $33 billion in assets, IMRF is well-funded and sustainable. Today, IMRF has about 400,000 members and retirees, and serves nearly 3,000 different units of government, including towns and villages, libraries and park districts, and counties and school districts (non-teaching personnel). The average member who retired in 2013 had approximately 22 years of service and received an annual benefit of about $17,000. For more information, visit www.imrf.org.