1.5 Trustee Position Description

Meeting room

1.5 Trustee position description


Each Trustee is a fiduciary responsible for the governance and oversight of IMRF. Trustees are obliged to act solely for the exclusive benefit of the IMRF members and beneficiaries and to act prudently under the circumstances. Each year, Trustees shall obtain eight hours of ethics training as required by the Illinois Pension Code (40 ILCS 5/1-113.18).

Although Trustees are elected by a specific constituency, upon taking office they represent all groups within IMRF. Trustees with conflicts must either avoid the conflict in advance or terminate it when it arises. A Trustee cannot ignore breaches of fiduciary duties by co-Trustees and must report breaches or potential breaches to the Board’s Ethics Commission, Board President or Executive Director.

The Duties of Trustees shall include:

  1. Prepare for and attend scheduled Board meetings and Committee meetings to which you are appointed.
  2. Be an informed and active member of the Board, fully participating in the decisions and actions of the Board by making independent assessments and reasonable judgments.
  3. Acquire and maintain the knowledge necessary to perform the duties of a Trustee.
  4. Follow policies and procedures established by the Board.
  5. Qualify statements made to outside parties as either personal opinion; or, the official position of the Board once taken.
  6. Act with respect towards other Trustees and staff in the conduct of IMRF business.
  7. Comply with the Board’s adopted policies and required filing of Compliance Statement and file an Annual Statement of Economic Interest with the DuPage County Clerk.
  8. Adhere to State law regarding confidentiality and privacy of member records and benefits.
  9. Adhere to the Illinois Open Meetings Act requiring public access to Board agendas, meetings and minutes. ; including financial training as necessary.
  10. Assume responsibility for evaluating of the Trustee’s own performance, and the overall performance of the entire Board.
  11. Evaluate the performance of the Executive Director.

Trustee Access to IMRF Resources

IMRF is operated for the benefit of its members, beneficiaries and employers. A Trustee should seek no advantage in the acquisition of resources or information over other Trustees, members or employers.

  1. In pursuit of his or her fiduciary duties, a Trustee has a right to request and receive information; to ask questions; and, to receive full information and answers before required to vote on a matter pending before the Board.
  2. A Trustee shall not give instructions or assign tasks to individual IMRF staff.
  3. A Trustee may request from the Executive Director or IMRF staff information or assistance necessary to meet their responsibilities as an Authorized Agent, or their normal right as a member of IMRF.
  4. The Executive Director may seek the advice of the President or refer the matter to the full Board before complying with individual Trustee requests that, in the Executive Director’s opinion, would require a significant amount of IMRF resources or cause disruption to the regular administration of IMRF.
  5. The Executive Director may refuse requests of individual Trustees that are in conflict with this policy. If the Trustee is not in agreement, he/she may appeal to the President or Vice President, as appropriate.