The plan’s funded status far exceeds the U.S. public pension plans are funded at this level. IMRF has received a Standard & Poor’s “strong” rating since 2017 and is 90% funded only 16 of the 100 largest U.S.Senior leaders and supervisors regularly engage with employees and chat about the REAACH (Respect, Empathy, Accountability, Accuracy, Courage, Honesty) values, with 94% of IMRF employees saying that they identify well with IMRF’s values, compared with 85% of respondents to a third-party employee engagement survey.IMRF has achieved 100% in measures of regulatory and legal compliance such as board fiduciary training and compliance with the Open Meetings Act, and zero adverse findings for public sector statutes and complaints to the Illinois public access counselor. It sets high levels of accountability through the deployment and active monitoring of comparative indicators. The Board of Trustees supports responsible governance, assures accountability, and supports IMRF’s performance excellence journey.The $1.8 billion in benefits paid in 2018 added $2.7 billion in total economic activity in Illinois, and it supported the creation of 18,329 jobs. IMRF contributes to societal well-being and the Illinois economy through the benefits paid to retired members.Employer satisfaction with transactions was 96%. Member satisfaction with transactions was 97% in 2018.IMRF’s 10-year performance of 9.47% gross annualized rate of return for the period ending in 2018 outperforms the actuarial assumption of 7.5% and a total portfolio benchmark of 8.78%.It has main and satellite offices, respectively, in Oak Brook and Springfield, IL, as well as eight Illinois regional home offices for field representatives. IMRF has 176,517 active members (working in an IMRF-qualified position and making contributions), 119,939 inactive members (no longer actively contributing but have contributions on deposit for a future benefit), and 133,261 benefit recipients. IMRF serves 3,010 employers and has $42.7 billion in assets. The main product of IMRF is money payments to members in response to an event, such as separation from employment, disability, death, or retirement. With a current workforce of 210, the Illinois Municipal Retirement Fund (IMRF) is a public-defined benefit pension plan providing services to the employees of units of local government and school districts throughout the state of Illinois (except for the City of Chicago and Cook County). Kgoerdt (subject: IMRF%E2%80%99s%20Baldrige%20Application) (Kathy Goerdt) Insights on the Road to Performance Excellence.Baldrige Excellence Framework Expand or Collapse.Are You Ready to Address Your Business Challenges and Get National Recognition?.easyInsight: Take a First Step Toward a Baldrige Self-Assessment.
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