IMRF administers pension and other benefits for more than 2,900 political subdivisions in the state. Participation is mandatory for employees of counties outside Cook, non-certified employees of school districts outside Chicago, and employees of municipalities and other political subdivisions with a population over 5,000 that do not provide Social Security or equivalent coverage for their employees before they reach a population of 5,000.
Illinois Municipal Retirement Fund Basics, by Plan
| Plan |
Assets (millions) |
Total Members |
| Illinois Municipal |
48,190.8 |
499,620 |
| Other Plans |
0.0 |
0 |
| Total |
48,190.8 |
499,620 |
Source: Public Plans Database (as of 2022)
Note: Illinois Municipal Retirement Fund has 0 other plans.
Assets
Assets at Year-End
Illinois Municipal Retirement Fund
2001-2022
| Fiscal Year |
Net Assets (billions) |
| 2001 |
15.0 |
| 2002 |
13.5 |
| 2003 |
16.4 |
| 2004 |
18.3 |
| 2005 |
19.9 |
| 2006 |
22.5 |
| 2007 |
24.2 |
| 2008 |
18.0 |
| 2009 |
22.3 |
| 2010 |
25.1 |
| 2011 |
24.8 |
| 2012 |
28.0 |
| 2013 |
33.3 |
| 2014 |
34.9 |
| 2015 |
34.5 |
| 2016 |
36.5 |
| 2017 |
41.4 |
| 2018 |
38.8 |
| 2019 |
45.0 |
| 2020 |
50.6 |
| 2021 |
57.7 |
| 2022 |
48.2 |
Membership
Ratio of Actives to Beneficiaries, 2001-2022
| Fiscal Year |
Illinois Municipal Retirement Fund |
US State and Local Pensions |
| 2001 |
2.3 |
2.4 |
| 2002 |
2.2 |
2.3 |
| 2003 |
2.2 |
2.2 |
| 2004 |
2.1 |
2.1 |
| 2005 |
2.1 |
2.1 |
| 2006 |
2.1 |
2.0 |
| 2007 |
2.0 |
2.0 |
| 2008 |
2.0 |
1.9 |
| 2009 |
1.9 |
1.9 |
| 2010 |
1.8 |
1.8 |
| 2011 |
1.7 |
1.7 |
| 2012 |
1.6 |
1.6 |
| 2013 |
1.6 |
1.5 |
| 2014 |
1.6 |
1.4 |
| 2015 |
1.5 |
1.4 |
| 2016 |
1.4 |
1.4 |
| 2017 |
1.4 |
1.4 |
| 2018 |
1.3 |
1.3 |
| 2019 |
1.3 |
1.3 |
| 2020 |
1.2 |
1.3 |
| 2021 |
1.2 |
1.2 |
| 2022 |
1.2 |
1.2 |
2022 Membership for Illinois Municipal Retirement Fund
| Actives |
Beneficiaries |
Inactive Vested |
Total Membership |
# of Participating Employers |
| 175,446 |
149,869 |
174,305 |
499,620 |
2,976 |
Cash Flows
Cash Flow vs. Total Assets (Millions)
Illinois Municipal Retirement Fund
2001-2022
| Fiscal Year |
Cash Flow |
Assets |
| 2001 |
-87.4 |
14,966.2 |
| 2002 |
-140.1 |
13,500.7 |
| 2003 |
-140.0 |
16,356.8 |
| 2004 |
-68.2 |
18,299.3 |
| 2005 |
-34.3 |
19,872.8 |
| 2006 |
-32.9 |
22,507.6 |
| 2007 |
-83.5 |
24,223.5 |
| 2008 |
-105.0 |
18,022.1 |
| 2009 |
-142.8 |
22,302.8 |
| 2010 |
-137.5 |
25,141.9 |
| 2011 |
-211.9 |
24,837.1 |
| 2012 |
-234.4 |
27,996.3 |
| 2013 |
-295.9 |
33,283.6 |
| 2014 |
-418.0 |
34,867.0 |
| 2015 |
-555.2 |
34,513.1 |
| 2016 |
-663.1 |
36,514.9 |
| 2017 |
-820.0 |
41,413.2 |
| 2018 |
-913.7 |
38,751.1 |
| 2019 |
-1,218.9 |
45,050.0 |
| 2020 |
-1,201.0 |
50,571.9 |
| 2021 |
-1,321.0 |
57,700.1 |
| 2022 |
-1,642.4 |
48,190.8 |
2022 Cash Flows for Illinois Municipal Retirement Fund (millions)
| Inflows |
Outflows |
Investment Gains (losses) |
Change in Net Assets |
| 1,309.9 |
2,952.2 |
-7,866.9 |
-9,509.2 |
Cash Flow as a Percentage of Assets
Illinois Municipal Retirement Fund
2001-2022
| Fiscal Year |
Illinois Municipal Retirement Fund |
National Average |
| 2001 |
-0.6 |
-2.1 |
| 2002 |
-1.0 |
-2.4 |
| 2003 |
-0.9 |
-2.6 |
| 2004 |
-0.4 |
-2.0 |
| 2005 |
-0.2 |
-2.2 |
| 2006 |
-0.1 |
-2.2 |
| 2007 |
-0.3 |
-2.1 |
| 2008 |
-0.6 |
-2.3 |
| 2009 |
-0.6 |
-3.1 |
| 2010 |
-0.5 |
-3.2 |
| 2011 |
-0.9 |
-3.1 |
| 2012 |
-0.8 |
-3.3 |
| 2013 |
-0.9 |
-3.1 |
| 2014 |
-1.2 |
-2.9 |
| 2015 |
-1.6 |
-2.8 |
| 2016 |
-1.8 |
-3.0 |
| 2017 |
-2.0 |
-2.9 |
| 2018 |
-2.4 |
-2.6 |
| 2019 |
-2.7 |
-2.6 |
| 2020 |
-2.4 |
-2.4 |
| 2021 |
-2.3 |
-2.1 |
| 2022 |
-3.4 |
-2.1 |
