Illinois Municipal Retirement Fund (IMRF) Announced as a 2017 Gold Award Recipient for Achievement of Excellence by the ILPEx Recognition Program
Peoria, IL (January 10, 2018) The ILPEx Recognition Program has announced the Illinois Municipal Retirement Fund (IMRF) of Oak Brook, IL as a recipient of the 2017 ILPEx Gold Award for Achievement of Excellence. IMRF will be formally honored at the annual award ceremony and recognition dinner on February 22, 2018, at the Hyatt Lodge at Hamburger University located in Oak Brook, IL.
“What a tremendous honor for the entire organization – for the IMRF Board of Trustees and staff,” said Executive Director Brian Collins. “It reflects our hard work and our commitment to achieving our mission, our vision, and our values. I’m proud to say that this award illustrates what we’re doing for our members along the way. In fact, the true recipients of this award are the members and retirees of IMRF who benefit from the dedication from each and every staff member who works to make IMRF a world-class organization.”
The ILPEx Gold Award for Achievement of Excellence is granted to those organizations who demonstrate effective, systematic, well-deployed approaches that respond to the multiple requirements of most Baldrige Framework for Performance Excellence criteria items and are integrated to meet organizational needs. The organization can show a fact-based evaluation and improvement process is in place to improve the efficiency and effectiveness of key approaches, and results validate the accomplishment of the organization’s mission and performance and demonstrates them as an industry leader relative to key results areas. Gold award recipients serve as a true role model for organizations on the Baldrige journey.
Headquartered in Oak Brook, IMRF is the 47th largest retirement plan in the United States and the best-funded statewide public pension plan in the Land of Lincoln. For 77 years, IMRF has partnered with local units of government to provide benefits for public employees. Today, those benefits include retirement, disability, and death/survivor payments. With a funded status about 95 percent and more than $40 billion in assets, IMRF is financially-sound and sustainable. As Illinois’ second-largest pension plan, IMRF serves 410,000 members in nearly 3,000 units of government, including counties, cities, towns, villages, libraries, park districts, and non-teaching personnel in local school districts. IMRF’s diversified portfolio includes domestic and international equities, fixed income, real estate, and alternative investments. The average member who retired in 2017 is receiving a monthly pension of about $1,770.
“IMRF has distinguished their organization as a role model in their pursuit of organizational excellence,” said Ben Krupowicz, Executive Director of the ILPEx Recognition Program. “Their nearly decade-long journey has demonstrated a long term focus by leadership on continual improvement, highlighting the hard work of all stakeholders, but particularly the commitment by their employees in support of their members and retirees. It is with pleasure that we honor IMRF at the 2018 Award ceremony and recognize their continued passion for excellence.”
The 2017 ILPEx Board of Examiners – comprised of 41 experts in business, education, health care and government – volunteered over 9,000 hours assessing each applicant in seven categories: leadership; strategy; customer engagement; measurement, analysis and knowledge management; workforce; operations; and results. The ILPEx Panel of Judges is responsible for validating the integrity of the ILPEx Awards for Excellence recognition cycle and determining recognition levels for each applicant. The panel is composed of experts selected from all industry sectors and geographic regions across the state of Illinois.
Since 1994, there have been 275 ILPEx Award for Excellence applications and approximately 1,550 examiners, representing over 160,000 hours of work, resulting in appropriately $7.4 million in volunteered time – all to make Illinois organizations more competitive, create jobs, and improve communities. As your preferred resource for growth and enterprise excellence, IMEC also offers training and support to help you address the Baldrige Criteria from leadership to results.
For more information on how your organization can benefit from services provided by the ILPEx Recognition Program, visit www.ilpex.org, or call 888-806-4632.
For more information on the Baldrige Performance Excellence Program, visit www.nist.gov/baldrige/.
About the ILPEx Recognition Program (IMEC)
IMEC leverages the Baldrige Excellence Framework as a foundation for driving organizational improvement and innovation across the state of Illinois. By providing a range of hands-on, goal-oriented solutions in the areas of leadership; strategy; customer engagement; measurement, analysis, and knowledge management; operations; and workforce, IMEC leads organizations in their mission to improve business results and to create sustainable competitive futures. Through the ILPEx Recognition Program, IMEC celebrates the organizations committed to achieving enterprise excellence and sets them apart as a true class of distinction.
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