Since 1941, has partnered with local units of government to provide retirement, disability and death benefits for public employees.
The typical IMRF retiree receives a modest and sustainable benefit, earned after decades of public service.
To efficiently and impartially develop, implement, and administer in a prudent manner programs that provide income protection to members and their beneficiaries on behalf of participating employers.
The Board appoints an Executive Director who is responsible for all administrative functions and supervision of staff employees.
The first meeting of the IMRF board was held on September 8, 1939, in the office of the Municipal Public Utility annuity and benefit fund at 135 S. LaSalle St. in Chicago.
At that same meeting, the board approved IMRF's first investment, a $5,000 Treasury bond at 2½ percent due on March 15 of 1952 or 1954, with the assumption that 1952 was an option year.
In 1955, an Illinois Supreme Court decision ruled that IMRF statutes provided an option for municipalities to enter, but none to exit.