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April 24, 2014, 9:40 pm
970 WMAY News

IMRF Gets 20 Percent Return Last Year, Boosting Springfield's Share


Concerns about Springfield’s unfunded liability for city employee pensions may not be as bad as first feared.

 

Alderman Joe McMenamin raised the issue last week, revealing that Springfield had a 97-million-dollar unfunded liability for workers covered under the Illinois Municipal Retirement Fund.

 

The fund’s director says those numbers were accurate for the end of 2012… but the picture has improved significantly since then.

 

Lou Kosiba says the IMRF had a 20-percent return on investment last year, adding as much as $45 million to Springfield’s pension reserves.

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