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Peoria Firemen's Pension Fund
The Peoria Firemen's Pension Fund operates under Article 4 of the Illinois Pension Code, serving career firefighters and their beneficiaries.
Peoria Firemen's Pension Fund
The Peoria Firemen's Pension Fund operates under Article 4 of the Illinois Pension Code, serving career firefighters and their beneficiaries. Board President Matt Smith and Secretary Stefanie Tarr — who also serves as Peoria City Clerk — oversee the plan's governance. The fund participates in the Illinois Public Pension Fund Association and the Illinois Pension Federation Association for trustee education and policy advocacy. Asset records show a mix of liquid public-market exposure and direct real estate concentrated in Illinois. Local cash management includes accounts at Morton Community Bank and BMO Harris Bank. Equity holdings are confirmed in three Illinois-focused REITs: Equity Residential, Equity LifeStyle Properties, and First Industrial Realty Trust — all Chicago-based. The fund does not widely disclose a detailed asset allocation or specific public equity fund managers. The fund falls under the consolidation mandate of Public Act 101-0610, which requires all downstate and suburban Article 4 firefighter pension funds to transfer investment authority to the state-run Firefighters' Pension Investment Fund. This consolidation process began in 2020 and has been phased over several years for smaller funds. Pension benefit administration remains local, but investment management is shifting to FPIF — a structural change that redefines the board's role from asset allocator to fiduciary monitor. The fund's structural differentiator is its position inside an active statutory consolidation. Unlike municipal plans that control their own asset-management decisions indefinitely, Peoria's firefighter fund is in transition — retaining local cash accounts and legacy real estate positions while board oversight pivots from portfolio construction to monitoring FPIF's performance and advocating for local benefit security.
General information
Firm type
Pension Fund
Year founded
1895
Location
Region
North America
Country
United States
City
Peoria
Corporate office
Peoria, IL, United States
Principals
Matt Smith
President of the Board of Trustees
Stefanie Tarr
Secretary of the Board
Sector focus
Frequently asked questions
Who runs investment decisions at the Peoria Firemen's Pension Fund?
A Board of Trustees governs the fund. Matt Smith serves as President and Stefanie Tarr — the Peoria City Clerk — serves as Secretary, per Altss research. Under Illinois' 2020 consolidation law, much of the investment authority is transferring to the Firefighters' Pension Investment Fund, a statewide entity now managing pooled assets for all Article 4 downstate firefighter funds.
How is this fund related to the Firefighters' Pension Investment Fund?
Public Act 101-0610 mandated that all downstate and suburban Illinois Article 4 firefighter pension funds consolidate their investment management under FPIF. Peoria's fund began transitioning investment authority to FPIF in 2020. The local board retains responsibility for benefit administration and can hold certain legacy assets independently.
What is the fund's known posture on direct real estate versus public markets?
Public records confirm the fund holds direct positions in three Chicago-based publicly traded REITs — Equity Residential, Equity LifeStyle Properties, and First Industrial Realty Trust. Cash accounts at Morton Community Bank and BMO Harris Bank suggest a liquidity reserve separate from long-duration equity exposure. There is no disclosed allocation to private real estate funds or direct property.
Does Illinois consolidation mean this pension fund is being dissolved?
No. The pension fund itself continues as a legal entity responsible for paying benefits to Peoria firefighters and their survivors. Consolidation moves investment management — selecting and monitoring fund managers — to the FPIF. The local board's job shifts to overseeing the FPIF relationship and ensuring benefit obligations are met.
What investment sectors does the fund typically avoid?
There are no publicly available investment policy statements that explicitly list excluded sectors. As a municipal firefighter pension plan operating under Illinois statute, it is subject to standard fiduciary constraints rather than mission-driven exclusionary screens.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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