Current News and Important Dates

Stay up-to-date with all the FABF News…Elections, Board Meetings, Legislative Updates and more.

1st Quarter Investment Update
FABF Website Admin
/ Categories: News & Events

1st Quarter Investment Update

It has been a turbulent start to the year with pronounced volatility as financial markets worldwide grapple with uncertainty around the direction of U.S. trade policy, and the potential impact to U.S. economic growth and inflation. Year-to-date, as of March 31st, US equities – as represented by the S&P 500 are down -4.3%, while U.S. bonds - as represented by the Barclay’s US Aggregate gained +2.8% and Global non-US equities (MSCI AC WldxUS IMI) are up +4.6%.

The Fund’s portfolio, as of the same period, has experienced a decline of -0.2% net of fees. While we understand and monitor short-term performance, the Fund is a long-term investor and investment results over longer periods show positive returns as illustrated in the following chart. The chart also reflects strong Fund performance versus the actuarial required rate of return, which is the assumed investment return that is used by the actuaries in calculating employer contributions. The Fund is diversified across asset classes and positioned to outperform over the long-term. Short-term underperformance is not unexpected.

The Fund is built on the foundation of a long-term investment horizon, diversification of assets, and disciplined investment policy compliance. This foundation accounts for the ups and downs of financial markets. Tools such as asset smoothing, strategic asset allocation, and periodic portfolio rebalancing help the Fund maintain stability and meet long-term obligations. While short-term market movements can draw attention, they are not a reliable measure of the Fund’s overall health or trajectory.

In addition to monitoring the investment portfolio, the Board tracks the expected employer contributions from the City, as the City contributions are vital to the long-term health of the Fund. Through April’s Board Meeting, the Fund has received $269 million of the expected $445 million in City contributions for 2025.

The Board receives regular updates on its investment portfolio from its investment consultant Callan, and remains diligent in monitoring employer contributions, and will respond to any situation that would negatively impact on the Fund’s ability to meet current obligations.

Print
59

2024 Board Meetings

To review Board Meeting dates and documents, please click the link below.

Board Meetings

Member Trustee Election Information

Under provisions of the Illinois Pension Code, an election will be held to fill the office of Active Firefighter Member Trustee of The Retirement Board. The position will become vacant on December 1, 2024, because of the expiration of the term of an incumbent. Ballots will be mailed to all active members eligible to vote no later than September 18, 2024.

Click here to see the posted election notice for more details

All members are encouraged to exercise their right to vote.

Pre-Retirement Seminar

The 2025 Spring Pre-Retirement Seminar is scheduled to be held at Guaranteed Rate Field (Sox Park) in the Wintrust Conference and Learning Center. The date for the seminar is Saturday, April 26, 2025, from 8:00 AM to 2:30 PM. Registration is limited to 120 and we are at capacity for the spring event. We have tentatively set the Fall Pre-Retirement Seminar for September 27 at the same venue. Please register with the Fund via email at seminar@fabf.org to confirm participation or cancel if your plans have changed. 

Click here for more information and planning materials

Observed Holidays

Office Closed:

  • New Year's Holiday Observed
  • Dr. Martin Luther King Jr.'s Birthday
  • Lincoln's Birthday Observed
  • President's Day
  • Pulaski Day
  • Memorial Day
  • Juneteenth Observed
  • Independence Day
  • Labor Day
  • Columbus Day/Indigenous People Day
  • Veteran’s Day
  • Thanksgiving (Thursday and Friday)
  • Christmas Holiday Observed