Illinois Municipal Retirement Fund (IMRF)
State retirement system, based in Illinois, reporting $63B in assets, for 492,959 participants.
Composed from this allocator's classification, location and filed figures.
Nothing material in the last 90 days. Last change: 31 Dec 2025, Changed its allocation policy 9 months ago.
16 more people and 2 more dated events
Every figure, date and source on this page is shown. The names behind them, and every related record, open with the complete profile.
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People to know
View all people- Chief Investment OfficerWhy: Chief investment officer: owns the allocation decisionEmail
- Interim Executive Director & General CounselWhy: Executive director: runs the plan or the officeEmail
Capital path
who backs this record, through what, into what; each name opens its own path- Angela Miller-MayChief Investment Officer
- Angela Miller-MayChief Investment Officer
- Vladimir ShuligaInterim Executive Director & General Counsel
Relationship network
18 connected entities
From board minutes, annual reports, Form 5500 filings and public records of commitments, consultants and staff in the allocator graph. Commitment amounts are those the allocator disclosed; many are not printed, and none is estimated.
Some relationships on this record are counted rather than named here. They open with the full profile.
Click any name or line for the commitments and sources behind it. Line weight is commitments together; dashed lines are inferred.
- Service provider
- Person
›How strength and recency are read
Managers, funds and consultants are read from the commitments: three or more is a strong observed relationship, two a repeat counterparty. No consultant link is marked current on the source, so none is labelled current or former here. Related plans, people and plan service providers are ordered by what the filing shows.
Darker lines were active in the last 24 months or are current; lighter lines are older or undated.
Size, funding, policy and commitments, with their basesState retirement systemShowHide
Allocation policy
| Asset class (as printed) | Bucket | Target | Range | Actual | Gap | Basis |
|---|---|---|---|---|---|---|
| Cash Equivalents | Cash | 1.0% | reported imrf.org | |||
| Fixed Income | Fixed income | 24.0% | reported imrf.org | |||
| Alternative Investments | Private equity | 14.0% | reported imrf.org | |||
| Domestic Equity | Public equity | 32.5% | reported imrf.org | |||
| International Equity | Public equity | 18.0% | reported imrf.org | |||
| Real Estate | Real estate | 10.5% | reported imrf.org |
Consultants and advisers
- Callan LLC General consultantthrough Dec 31, 2025 ACFR
- Gabriel, Roeder, Smith & Company Actuarythrough Dec 31, 2025 ACFR
- Northern Trust Co. Custodianthrough Dec 31, 2025 ACFR
Decision makers
- Angela Miller-May · Chief Investment OfficerWhy this person: Chief investment officer: owns the allocation decision; Named with investment responsibilityWork email on file (the allocator's own staff page), confirmed 2026-09-30, confidence 90%
- Vladimir Shuliga · Interim Executive Director & General CounselWhy this person: Executive director: runs the plan or the officeWork email on file (the allocator's own staff page), confirmed 2026-09-30, confidence 90%
Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. 2 with a route on file. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.
People
- Vladimir Shuliga Interim Executive Director & General CounselExecutive director / CEO
+16 more people on the investment staff and board
Every name, title and published role at this allocator, with the page it was read from.
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Manager roster
What changed
- Dec 31, 2025Allocation target changedIllinois Municipal Retirement Fund (IMRF) cut its Fixed Income target 24.5% -> 24.0% (2024-12-31 to 2025-12-31)
- Dec 31, 2025Allocation target changedIllinois Municipal Retirement Fund (IMRF) cut its Domestic Equity target 33.5% -> 32.5% (2024-12-31 to 2025-12-31)
- Dec 31, 2025Allocation target changedIllinois Municipal Retirement Fund (IMRF) raised its Alternative Investments target 12.5% -> 14.0% (2024-12-31 to 2025-12-31)
- Jun 30, 2024Assets changedIllinois Municipal Retirement Fund (IMRF) total assets $47.8B -> $52.1B (+9.1%, 2023-06-30 to 2024-06-30)
- Jun 30, 2024Assets changedIllinois Municipal Retirement Fund (IMRF) fiduciary net position $94.1B -> $102.9B (+9.3%, 2023-06-30 to 2024-06-30)
+2 more dated events
Every name, record and relationship behind this count, with the source on each.
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Commitments
Size and funding
Provenance
Provenance
Not yet on record: funded ratio, fund commitments.
Record history
- Allocation target changed2025-12-31source on record
- Allocation target changed2025-12-31source on record
- Allocation target changed2025-12-31source on record
+4 more changes on this record's ledger
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The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.
›Connections
every published relationship on the graph
+3 connections on the graph
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