Fund Operations During Coronavirus Shutdown

Last Updated - Thursday, March 11, 2021

Hello to all Fund members. We hope that you and your family are healthy and safe during this historic time.

As you know, due to the COVID-19 virus outbreak, the MWRDRF office has been closed to visitors since March 16, 2020. Staff has been operating remotely with select staff working from our office. For the health and safety of members and staff we will continue to keep our office closed. If you have a request for assistance, please continue to contact us electronically or via mail. You will find our email addresses on our contact us page. We try to satisfy member requests expeditiously, but please understand that processing times may be delayed by our reduced office staffing and, in some cases, dependence on a separate entity and their possible limitations. We appreciate your patience.

On behalf of the Retirement Board and Fund staff, we would like to send our condolences to the family of Terry O’Brien, former Board President of the Metropolitan Water Reclamation District of Greater of Chicago. Not only a strong leader of the District’ s mission statement, Terry understood fiscal prudence and the importance of proper funding, leading to an increase in statutory contributions to the Fund in 2012. God bless to the O’Brien family.

At the conclusion of the 101st Session of the Illinois General Assembly, Senate Bill 1805 passed both legislative houses and was sent to Governor Pritzker for his concurrence and signature. If signed, this Bill will allow the District to utilize any lawful means of revenue to increase contributions to the Fund. We thank Representatives Marcus Evans Jr. and Mary Flowers and Senator Cristina Castro for their leadership in the passage of this Bill. In addition, we would like to thank Brendan O’Connor, Head Assistant Attorney, and District Treasurer Mary Ann Boyle for their hard work and dedication to the long-term solvency of the Fund.

Even after an historic run in the markets after the COVID sell off in the first quarter, most prognosticators are projecting that markets will be rewarding in 2021. A mixture of unprecedented levels of monetary stimulus, continued low interest rates, and, hopefully, continued reductions in COVID limitations, could lead to a strong rebound for investment styles, industry sectors and companies that have been out of favor. No matter how the year turns out, your Retirement Board will continue to follow their target asset allocation to best position the Fund’s portfolio to meet or exceed the actuarially rate of return, with an acceptable level of risk over time.

More information regarding the Fund’s investment portfolio can be found on our Financial and Investment page.

Please review this website periodically for further updates. Keep an eye out for our Spring Newsletter that should be coming soon.

Best to you and your family. Stay healthy and thank you for your patience and understanding.

MWRDRF Staff

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