Illinois Municipal Retirement Fund, Oak Brook, hired executive search firm EFL Associates to assist in finding a replacement for Louis Kosiba, the $36.2 billion pension fund's executive director.
The pension fund board approved the selection of EFL on recommendation of its executive search committee, said Nisa Neely, IMRF spokeswoman.
Mr. Kosiba is retiring from the pension fund effective Dec. 31. A new executive director is expected to be selected in the late third quarter or early fourth quarter and will begin in January 2018.
The board began the process of finding a search firm when Mr. Kosiba announced Nov. 17 that he would retire.
Internal and external candidates will be considered.
