Illinois Municipal Retirement Fund, Oak Brook, will keep its assumed investment rate of return at 7.5%, according to a report on the fund board's actions.
The board of the $24.7 billion retirement fund voted unanimously in December to accept a recommendation by the retirement fund's actuarial consultant, Gabriel Roeder Smith, to continue the current rate.
The retirement fund's investments returned -0.29% for the 12 months ended Dec. 31, underperforming its customized benchmark's return of 1.48% during the same time period.
For the three years ended Dec. 31, the fund returned 12.15%, outperforming its benchmark's 11.13%; for five years, 2.85%, underperforming its benchmark's 3.24%; and for 10 years, 6%, outpacing its benchmark's 5.82%. All returns are annualized.
Louis W. Kosiba, the retirement fund's executive director, couldn't be reached for comment.
