Mwrd Retirement Fund

What Mwrd Retirement Fund does

The Metropolitan Water Reclamation District Retirement Fund (MWRDRF) is a governmental, single-employer defined benefit plan established in 1931 by the Illinois General Assembly under Article 13 of the Illinois Pension Code. It administers retirement annuities, ordinary and duty disability benefits, surviving-spouse and child annuities, QILDRO processing, and retiree health insurance plans for eligible active and retired employees of the Metropolitan Water Reclamation District of Greater Chicago (MWRDGC). Benefit administration is tier-based: the supplied data identifies 12% employee contributions for Tier I and 9% for Tier II, with formulas, retirement conditions, and annual increases varying by tier.

Technology is centered on a Pension Administration System used for recordkeeping and benefit calculations, with Provaliant Retirement LLC providing consulting and Levi, Ray, and Shoup providing development, hosting, and maintenance. The public website provides active-member and retiree information, forms, publications, financial reporting, counseling contacts, and payment information. The data identifies no API, developer offering, proprietary AI capability, or machine-learning capability.

Funding comes from payroll-deducted member contributions, employer contributions, and investment returns rather than commercial fees. The stated portfolio targets are 38% domestic equities, 20% international equities, 5% global equities, 27% fixed income, and 10% real estate. MWRDGC automatically enrolls new employees, while the Fund uses onboarding, benefits counseling, newsletters, and direct monthly benefit payments to serve active employees, retirees, and beneficiaries.

Name

Mwrd Retirement Fund

Legal name

Metropolitan Water Reclamation District Retirement Fund

Website

https://mwrdrf.org

Company type

Private

Founded year

1931

Operating status

Operating

Headcount range

11–50 employees

Short description

The Metropolitan Water Reclamation District Retirement Fund administers statutory defined-benefit pensions, disability, survivor, child, and retiree health benefits for eligible MWRDGC employees and retirees through tier-based contributions and professionally managed pension assets.

Ownership category

akta.pro rank

Product category

Public Pension Administration

NAICS

Pension Funds (525110)

akta.pro industry

PRIMARYBPAIAKAA

Pensions & Retirement Benefits Administration

Business & Public Services/Public Sector & Government Administration/Social Security, Benefits & Welfare Administration

Keywords

• Public pension fund
• Defined benefit plan
• Retirement annuities
• Disability benefits
• Pension administration

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Revenue model

1. Member Contributions: Statutory employee contributions deducted from bi-weekly payroll: 12% for Tier I participants, 9% for Tier II participants. These are pre-tax contributions that fund retirement annuities.
2. Employer Contributions: MWRDGC (Metropolitan Water Reclamation District of Greater Chicago) makes employer contributions as required by state statute to fund the defined benefit plan.
3. Investment Returns: The Fund's investment portfolio generates returns that contribute to funding annuity obligations. Asset allocation targets: 38% domestic equities, 20% international equities, 5% global equities, 27% fixed income, 10% real estate.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

The Metropolitan Water Reclamation District Retirement Fund is a governmental defined benefit pension plan established in 1931 that administers lifetime monthly retirement annuities, ordinary and duty disability benefits, surviving spouse annuities, and child annuities to active MWRDGC employees, vested terminated members, retiree annuitants, and their eligible beneficiaries under Article 13 of the Illinois Pension Code. It also administers retiree health insurance coverage and processes Qualified Illinois Domestic Relations Orders (QILDROs) dividing pension benefits upon divorce.

Product overview

The MWRD Retirement Fund is a defined benefit, single employer pension plan established in 1931 under Article 13 of the Illinois Pension Code. It provides a comprehensive suite of retirement and benefits administration services for employees of the Metropolitan Water Reclamation District of Greater Chicago. The core offering is the retirement annuity calculation and distribution system, supplemented by disability benefits (ordinary and duty), surviving spouse annuities, child's annuities, and retiree health insurance administration. The Fund operates on a tier-based structure (Tier I and Tier II) with different contribution rates, retirement age requirements, and benefit calculations based on membership date.

Differentiator

Problem solved

Functional benefit

Products and services

• Defined Benefit Retirement Annuity

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core.

• Foster & Foster Inc.coreImplementation/ SI/ Consulting PartnerActuarial services provider for the Fund. Located in Naperville, IL. Prepares annual actuarial reports and valuations.
• Jacobs, Burns, Orlove and HernandezcoreImplementation/ SI/ Consulting PartnerLegal counsel for the Fund. Located in Chicago, IL. Provides legal advice and representation.
• Legacy Professionals, LLPcoreImplementation/ SI/ Consulting PartnerIndependent auditor for the Fund. Located in Westchester, IL. Conducts annual financial audits.
• Marquette Associates, Inc.coreTechnology or IntegrationInvestment consultant for the Fund. Located in Chicago, IL. Provides investment advice, performance monitoring, and asset allocation recommendations to the Board.
• Provaliant Retirement LLCcoreTechnology or IntegrationPAS (Pension Administration System) Consultant. Located in Scottsdale, AZ. Provides consulting services related to the pension administration system.
• Levi, Ray, and ShoupcoreTechnology or IntegrationPAS Development, Hosting, and Maintenance provider. Located in Springfield, IL. Maintains the Fund's pension administration technology platform.
• Illinois Retirement Systems Reciprocal Act PartnerscoreStrategic or Co-development PartnerThe Fund participates in reciprocity with 12 other Illinois public pension systems: County Employees' Annuity & Benefit Fund, Municipal Employees' Annuity & Benefit Fund of Chicago, Forest Preserve District Employees' Annuity & Benefit Fund, Park Employees' Annuity & Benefit Fund of Chicago, General Assembly Retirement System, Public School Teachers' Pension & Retirement Fund, Illinois Municipal Retirement Fund, State Employees' Retirement System of Illinois, Judges' Retirement System, State Teachers' Retirement System, State Universities Retirement System, and Laborers' Annuity & Benefit Fund. Reciprocity allows combining service credits across systems.

Scale indicators3 records

Recent moves3 records

Expansion highlights2 records

Direct peers

• Illinois Municipal Retirement Fund (IMRF): Statewide Illinois public pension system serving thousands of local government employers under Article 7 of the Illinois Pension Code. Comparable in statutory structure and benefits administration; differs in multi-employer scale but operates in the same regulatory and reciprocity environment as MWRDRF.
• Cook County Employees' Annuity & Benefit Fund: Statutory Illinois public pension fund administering defined benefit retirement for Cook County government employees. Directly comparable to MWRDRF as a reciprocal Act partner with parallel governance, tier structure, and defined benefit administration model.
• Park Employees' Annuity & Benefit Fund of Chicago: Public pension fund for Chicago Park District employees with defined benefit structure under Illinois statute. Reciprocity partner with MWRDRF and operates a near-identical administrative and investment model for a single municipal employer.
• State Universities Retirement System of Illinois (SURS): Illinois public pension fund for state university employees with defined benefit structure and reciprocity participation. Operates the same Article 13-style statutory framework as MWRDRF for a different single-employer public sector constituency.
• Laborers' Annuity & Benefit Fund of Chicago: Chicago-based public pension fund for laborers' union members under Illinois statute. Reciprocity partner with MWRDRF, providing comparable defined benefit plan administration for a narrow public-sector/municipal-employer constituency in the same metro area.
• Municipal Employees' Annuity & Benefit Fund of Chicago: Chicago-specific public pension fund for municipal employees, established under Illinois pension code with defined benefit structure. Operates under the same statutory framework and reciprocity network as MWRDRF, serving a comparable municipal employer base.
• Forest Preserve District Employees' Annuity & Benefit Fund: Small Illinois public pension fund for Forest Preserve District employees, operating under Article 13-style defined benefit framework. Most directly comparable to MWRDRF given similarly narrow single-employer scope and reciprocity participation.
• Public School Teachers' Pension & Retirement Fund of Chicago: Chicago-specific defined benefit pension fund for public school teachers, established under Illinois pension code and participating in reciprocity with MWRDRF. Closely mirrors the single-municipal-employer public pension model that MWRDRF operates.
• State Employees' Retirement System of Illinois (SERS): Statewide defined benefit pension system for Illinois state employees under Article 14 of the Illinois Pension Code. Direct reciprocity partner of MWRDRF and operates the same tier-based, statutory benefit model on a larger scale.
• General Assembly Retirement System of Illinois: Statutory Illinois pension fund for state legislators under Article 2 of the Illinois Pension Code. Small, narrow defined benefit fund participating in the same reciprocity network as MWRDRF; most directly analogous in single-employer scope and statutory structure.

Market position

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mwrd-retirement-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mwrd Retirement Fund