Illinois Municipal Retirement Fund (IMRF) vs Indiana Public Retirement System (INPRS)
Side-by-side pension health comparison from DOL and public plan data
Illinois Municipal Retirement Fund (IMRF) (A) and Indiana Public Retirement System (INPRS) (B) are close on the LakeQuality rubric. Funding ratios sit at 81% and 78% respectively — within a few points of each other.
With grades this close, the comparison turns on plan-specific factors: status (active vs frozen), participant maturity, sponsor financial health, and multi-year trajectory rather than the headline composite.
Verdict
Illinois Municipal Retirement Fund (IMRF) has a stronger Pension Health Score of 80/100 (A) compared to Indiana Public Retirement System (INPRS) at 70/100 (B). Funding ratios differ by 3.0 percentage points (81.2% vs 78.2%). Illinois Municipal Retirement Fund (IMRF) covers 438,000 participants.
| Metric | Illinois Municipal Retirement Fund (IMRF) | Indiana Public Retirement System (INPRS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 80/100 (A)* | 70/100 (B) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 81.2%* | 78.2% |
| Total Assets | $51.2B | $37.0B |
| Total Liabilities | $63.1B | $47.3B* |
| Unfunded Liability | $11.9B | $10.3B* |
| Participants | 438,000 | 425,000 |
| 1-Year Investment Return | 5.8% | 6.1%* |
| Plan Type | public | public |
| PBGC Risk Level | low | moderate |
| Sponsor | State of Illinois | State of Indiana |
Illinois Municipal Retirement Fund (IMRF) has a stronger Pension Health Score of 80/100 (A) compared to Indiana Public Retirement System (INPRS) at 70/100 (B). Funding ratios differ by 3.0 percentage points (81.2% vs 78.2%). Illinois Municipal Retirement Fund (IMRF) covers 438,000 participants.