ALL ABOUT SURS
S U R SSTATE UNIVERSITIES RETIREMENT SYSTEM
TABLE OF CONTENTS
Who is SURS? ........................................................................................................................................................ 1 Membership SURS Members Do Not Participate In Social Security BenefitsPaid BoardofTrustees
Employers ............................................................................................................................................................... 2
SURS Retirement Plans .......................................................................................................................................... 3DefinedBenefitPlans SURSTraditionalBenefitPackage SURSPortableBenefitPackageDefinedContributionPlan SURSSelf-ManagedPlan(SMP)PublicAct96-889PublicAct98-599PublicAct100-23
RetiringReciprocally .............................................................................................................................................. 4
RetirementChartfortheDefinedBenefitandSelf-ManagedPlans ....................................................................... 5
LegislationPassedinFiscalYear2018 ................................................................................................................6-7PublicAct100-0587
HistoryofStateContributions ............................................................................................................................... 8SURSCashFlow
FiscalYear2019Contribution ................................................................................................................................ 9ConsequencesofUnderfundingHistoricalFundingRatios
ProjectionofFutureContributions ....................................................................................................................... 10
InvestmentProgramHistory ................................................................................................................................. 11HowHasSURSDoneinRelationtotheMarketsandtoItsPeers?AssetAllocationChart
IllinoisLegislativeDistrictsMap .......................................................................................................................... 12
NortheastIllinoisLegislativeDistrictsMap ......................................................................................................... 13
SURSMembershipCountsandNetBenefitsbySenateDistrict .......................................................................... 14
SURSMembershipCountsandNetBenefitsbyHouseDistrict .....................................................................15-16
PertinentLegislativeCommitteesandMembers .................................................................................................. 17
ContactInformation ...............................................................................................................................BackCover
1
WHO IS SURS?ThegovernorandGeneralAssemblyfoundedtheUniversityRetirementSystemin1941asanadministratorofbenefitsforemployeesoftheUniversityofIllinois.Inthefollowingyears,theSystemgrewtoincludeotheruniversities,collegesandaffiliatedagenciesthroughoutthestate.In1963,theSystemadopteditscurrentname,StateUniversitiesRetirementSystem(SURS).AsofJune30,2019,SURSemployed137peopleatitsChampaignandNapervilleofficesandprovidedretirement,survivor,disabilityanddeathbenefitsto236,910membersthroughouttheworld.
MEMBERSHIPSURSservesadiversegroupofemployeeswithoccupationsrangingfromprofessorsandteacherstoclerical,buildingserviceworkersandgroundskeepers.
SURS Members do not Participate In Social SecurityUnlikemanyotherpublicpensionsystems,SURSisthesolesourceofretirementincomeforitsparticipants.Thestate/employerdoesnotcontributetoSocialSecurityontheemployee’sbehalf,andthereisnocoordinatedbenefitforSURS-coveredemploymentfromSocialSecurityuponretirement.Inaddition,retireeswhomayqualifyforSocialSecuritybenefitsfromother,non-SURScoveredemployment,maybeaffectedbytheWindfallEliminationProvisionortheGovernmentPensionOffset,resultinginanoffsetoftheirSocialSecuritybenefit.
Benefits PaidSURSdefinedbenefitplanbenefitpaymentsforfiscalyear2018were$2.4979billion.$123.8millioninrefundswerealsopaid.Theaveragemonthlyretirementannuitywas$3,333.
BOARD OF TRUSTEESTheSURSBoardofTrusteesiscomprisedof11members:fourappointedbythegovernor,fourcontributingmemberselectedbythecontributingmembersofSURS,twoannuitantselectedbytheannuitantsofSURSandthechairoftheIllinoisBoardofHigherEducation,alsoappointedbythegovernor.
John AtkinsonChairpersonAppointedTermExpires:January2025
Collin Van MeterViceChairpersonElectedTermExpires:July2024
John LyonsTreasurerAppointedTermExpires:July2024
Aaron AmmonsBoardMemberElectedTermExpires:July2021
Richard FigueroaBoardMemberAppointedTermExpires:June2021
Jamie-Clare FlahertyBoardMemberAppointedTermExpires:June2024
J. Fred GiertzBoardMemberElectedTermExpires:July2021
Scott HendrieBoardMemberAppointedTermExpires:June2021
Steven RockBoardMemberElectedTermExpires:July2024
Antonio VasquezBoardMemberElectedTermExpires:July2021
Mitchell VogelBoardMemberElectedTermExpires:July2021
2
EMPLOYERSSURSservesmorethan60employersinIllinois.Ouremployingagenciesincludepublicuniversities,communitycollegesandotheraffiliatedstateagencies.
BlackHawkCollege(Moline)CarlSandburgCollege(Galesburg)ChicagoStateUniversityCityCollegesofChicagoCollegeofDuPage(GlenEllyn)CollegeofLakeCounty(Grayslake)DanvilleAreaCommunityCollegeEasternIllinoisUniversity(Charleston)ElginCommunityCollegeGovernorsStateUniversity(UniversityPark)HeartlandCommunityCollege(Normal)HighlandCommunityCollege(Freeport)ILCSSection15-107(l)Members(Springfield)ILCSSection15-107(c)Members(Springfield)IllinoisBoardofExaminers(Naperville)IllinoisBoardofHigherEducation(Springfield)IllinoisCentralCollege(Peoria)IllinoisCommunityCollegeBoard(Springfield)IllinoisCommunityCollegeTrusteeAssociation(Springfield)IllinoisDepartmentofInnovationandTechnology(Springfield)IllinoisEasternCommunityCollegesIllinoisMathematicsandScienceAcademy(Aurora)IllinoisStateUniversity(Normal)IllinoisValleyCommunityCollege(Oglesby)JohnA.LoganCollege(Carterville)JohnWoodCommunityCollege(Quincy)JolietJuniorCollegeKankakeeCommunityCollegeKaskaskiaCollege(Centralia)KishwaukeeCollege(Malta)LakeLandCollege(Mattoon)
Lewis&ClarkCommunityCollege(Godfrey)LincolnLandCommunityCollege(Springfield)McHenryCountyCollege(CrystalLake)MoraineValleyCommunityCollege(PalosHills)MortonCollege(Cicero)NortheasternIllinoisUniversity(Chicago)NorthernIllinoisUniversity(DeKalb)NorthernIllinoisUniversityFoundation(DeKalb)OaktonCommunityCollege(DesPlaines)ParklandCollege(Champaign)PrairieStateCollege(ChicagoHeights)RendLakeCollege(Ina)RichlandCommunityCollege(Decatur)RockValleyCollege(Rockford)SaukValleyCollege(Dixon)ShawneeCollege(Ullin)SouthSuburbanCollege(SouthHolland)SoutheasternIllinoisCollege(Harrisburg)SouthernIllinoisUniversity-CarbondaleSouthernIllinoisUniversity-EdwardsvilleSouthwesternIllinoisCollege(Belleville)SpoonRiverCollege(Canton)StateUniversitiesCivilServiceSystem(Urbana)StateUniversitiesRetirementSystem(Champaign)TritonCollege(RiverGrove)UniversityofIllinois-ChicagoUniversityofIllinois-SpringfieldUniversityofIllinois-Urbana-ChampaignUniversityofIllinoisAlumniAssociation(Urbana)UniversityofIllinoisFoundation(Urbana)WaubonseeCommunityCollege(SugarGrove)WesternIllinoisUniversity(Macomb)WilliamRaineyHarperCollege(Palatine)
3
SURS RETIREMENT PLANSTheStateUniversitiesRetirementSystemofIllinois(SURS)providesretirement,disability,deathandsurvivorbenefitstoeligibleSURSparticipantsandannuitants.SURSmembersmustchooseoneofthreeretirementop-tions:theTraditionalBenefitPackage,thePortableBenefitPackage,ortheSelf-ManagedPlan(SMP).Thechoiceispermanentandcannotbechanged.Informationissenttoallnewmembers,alongwithanelectionform,tohelpthemmaketheirchoice.Ifanewmemberfailstochoosewithinsixmonths,theywillbepermanentlyenrolledintheTraditionalBenefitPackage.
Defined Benefit PlansTheSURSTraditionalBenefitPackageisthehistoricalSURSdefinedbenefitretirementplan.Until1998,itwastheonlySURSplanavailable.Itprovideslifetimeretirementbenefitsandprovidesforasurvivorbenefitatnoadditionalcost.However,theseparationrefundfeatureisnotgenerous.TheSURSPortableBenefitPackageisalsoadefinedbenefitretirementplanthathasmuchincommonwiththeTraditionalBenefitPackage.ItprovidesamoregenerousseparationrefundifyouleavetheSystem.However,theprovisionsforsurvivorbenefitsrequireareductiontotheretirementanddeathbenefits.
Defined Contribution PlanTheSURSSelf-ManagedPlan(SMP)isadefinedcontributionplanthatestablishesanaccountinyournameintowhichyourcontributionsandtheemployer(stateofIllinois)contributionsareplaced.Youdecidehowyourac-countbalancewillbeinvested,selectingfromavarietyofmutualfundsandvariableannuities.
Public Act 96-889Gov.QuinnsignedSenateBill1946(PublicAct96-889)intolawonApril14,2010.TheresultingchangestotheIllinoisPensionCodemodifySURSbenefitsforemployeeshiredonorafterJan.1,2011.MembershiredonorafterJan.1,2011,areconsideredTierIImembers.MembershiredbeforeJan.1,2011,areTierImembers.SeethecomparisonchartonPage5fordetails.
Public Act 98-599Gov.QuinnsignedSenateBill1(PublicAct98-599)intolawonDec.5,2013.TheresultingchangestotheIl-linoisPensionCodemodifySURSbenefitsforTierImembers,effectiveJune1,2014.OnMay14,2014,CircuitJudgeJohnBelzgrantedatemporaryrestrainingorderandapreliminaryinjunctionstoppingtheimplementationofPA98-599.Inaccordancewiththeorder,SURScontinuedtoadministercontribu-tionsandbenefitsasthelawexistedpriortoamendmentbyPA98-599untilotherwiseorderedbythecourt.OnNov.21,2014,JudgeBelzenteredafinaldeclaratoryjudgmentthat“PublicAct98-0599isunconstitutionalandvoidinitsentirety.”Thecourtalsoorderedthatthepreliminaryinjunctionpreventingstatedefendants(in-cludingSURS)fromimplementingtheActsinceMay14,2014,becomepermanent.TheIllinoisAttorneyGeneralappealedthecircuitcourt’srulingandonMarch11,2015,defendedthelawbeforetheIllinoisSupremeCourt.OnMay8,2015,theIllinoisSupremeCourtruledPA98-599unconstitutional.
Public Act 100-23TheIllinoisGeneralAssemblyonJuly6,2017,successfullyvotedtooverrideGov.Rauner’svetoandpassedSB42(PublicAct100-23)thatmandatesSURS,SERSandTRStocreateanoptionalhybridretirementplanthatwhenimplementedwillbeavailabletocurrentTierIImembersandfuturenewhires.ThenewplanwillnotaffectbenefitsofTierImembers,retireesorSMPmembers.SB42containstwochangesthattakeeffectinFiscalYear2018:
• Itrequiresemployerstopaytheemployernormalcostontheportionofanemployee’searningsthatisinexcessofthegovernor’ssalary(currently$177,500).
• Itrequiresthecostorsavingsofanychangeinactuarialassumptionsmadesincethe2012valuationtobe“smoothed”(orimplementedinequalannualinstallments)overafive-yearperiodfromwhenthechangefirstapplied.
SB42requiresthecreationofanoptionalhybridplan,whichwillbecomeeffectiveonafuturedatedeterminedby
4
theSURSBoardofTrustees.Theoptionalhybridplancontainscomponentsofadefinedbenefitplanandade-finedcontributionplan. Individualswhofirstbecomeparticipants on or after the implementation date willhavetheoptionofchoosingbetweentheTraditionalde-finedbenefitplan,thePortabledefinedbenefitplan,theSelf-ManagedPlanortheoptionalhybridplan.CurrentTierIIparticipantswillhavetheoptiontoirrevocablyelecttoparticipateintheoptionalhybridplaninsteadofaTierIIplan.Underthedefinedbenefitportionoftheoptionalhybridplan:
• ThepensionableearningslimitistheSocialSe-curityWageBase.
• The final average salary is the average salaryduringthelast10yearsofservice
• Retirementcanbeginnoearlierthanage67with10yearsofservicecredit.
• Retirementannuitiesarecalculatedbymultiply-ing1.25percentbyeachyearof servicecreditandthefinalaveragesalary
• Automatic annual increases are applied begin-ningoneyearafterretirementandarecalculatedat½ofthepercentageincreaseintheConsumerPriceIndex-W.
Employeescontributethelesserof6.2percentofpayorthetotalnormalcosttothedefinedbenefitportionoftheoptionalhybridplanandaminimumof4percentofpaytothedefinedcontributionportionoftheoptionalhy-bridplan.Employerscontributebetween2-6percentofpayforeachemployeewithatleastoneyearofservicewith theemployer to thedefinedcontributionportionoftheoptionalhybridplan.Employersalsocontributetheemployernormalcostforeachemployeewhopar-ticipatesintheoptionalhybridplanorwhoparticipatesinTier II insteadof theoptionalhybridplan,plusanamounttoamortizetheunfundedactuarialaccruedli-abilityattributabletothedefinedbenefitsofsuchem-ployees.Forfiscalyearsthroughfiscalyear2020,thestatemakesadditionalcontributionstoSURSequalto2percentofthetotalpayrollofeachemployeewhopar-ticipatesintheoptionalhybridplanorwhoparticipatesinTierIIinsteadofintheoptionalhybridplan;theem-ployerpaysthiscostbeginninginfiscalyear2021.
RETIRING RECIPROCALLYTheIllinoisRetirementSystemsReciprocalActgivesretiringIllinoispublicemployeestheoptiontouseser-vicecreditearnedfromothereligiblepublicretirementsystems towardabenefitcalculatedbaseduponcom-binedpensionservicebetweenfunds.Findoutmoreatwww.surs.org.
RECIPROCAL SYSTEMSChicago Teachers' Pension Fund203 N. LaSalle Street, Suite 2600
Chicago, IL 60601-1210Tel. (312) 641–4464 Fax (312) 641–7185
www.ctpf.org
County Employees' Annuity & Benefit Fund of Cook County33 North Dearborn Street, Suite 1000
Chicago, IL 60602-3103Tel. (312) 603–1200 Fax (312) 603–9760
Forest Preserve District Employees' Annuity & Benefit Fund of Cook County
33 North Dearborn Street, Suite 1000Chicago, IL 60602-3103
Tel. (312) 603–1200 Fax (312) 603–9760
General Assembly Retirement System2101 South Veterans Parkway – P.O. Box 19255
Springfield, IL 62794–9255Tel. (217) 782–8500 Fax (217) 557-5154
www.srs.illinois.gov
Illinois Municipal Retirement Fund2211 York Road, Suite 500Oak Brook, IL 60523–2337
Tel. 800–275–4673 Fax (630) 368–5399www.imrf.org
Judges' Retirement System2101 South Veterans Parkway – P.O. Box 19255
Springfield, IL 62794–9255Tel. (217) 782–8500 Fax (217) 557-5154
www.srs.illinois.gov
Laborers' Annuity & Benefit Fund of Chicago321 North Clark Street, Suite 1300
Chicago, IL 60654-4739Tel. (312) 236–2065 Fax (312) 236–0574
www.labfchicago.org
Metropolitan Water Reclamation District Retirement Fund111 East Erie, Suite 330Chicago, IL 60611-2898
Tel. (312) 751–3222 Fax (312) 751–5699www.mwrd.org
Municipal Employees' Annuity & Benefit Fund of Chicago321 North Clark Street, Suite 700
Chicago, IL 60654-4767Tel. (312) 236–4700 Fax (312) 527-0192
www.meabf.org
Park Employees' Annuity & Benefit Fund of Chicago55 East Monroe Street, Suite 2720
Chicago, IL 60603-5713Tel. (312) 553–9265 Fax (312) 553–9114
www.chicagoparkpension.org
State Employees' Retirement System of Illinois2101 South Veterans Parkway – P.O. Box 19255
Springfield, IL 62794–9255Tel. (217) 785–7444 Fax (217) 524–2293
www.srs.illinois.gov/SERS/Home_sers.htm
Teachers' Retirement System2815 West Washington Street – P.O. Box 19253
Springfield, IL 62794–9253Tel. 877–927–5877 Fax (217) 753–0394
www.trsil.org
5
Impo
rtant
- Po
lice/
Fire
fight
ers m
ay q
ualif
y fo
r spe
cial
con
tribu
tion
rate
s, el
igib
ility
requ
irem
ents
and
retir
emen
t cal
cula
tions
. Thi
s cha
rt is
onl
y a
brie
f ove
rvie
w a
nd sh
ould
not
be
cons
ider
ed a
su
bstit
ute
for t
he in
form
atio
n in
the
SUR
S M
embe
r Gui
des o
r the
pro
visi
ons o
f the
law
set f
orth
in A
rticl
es 1
, 15
and
20 o
f the
Illin
ois P
ensi
on C
ode.
111620
Tier
ITr
aditi
onal
& P
orta
ble
Plan
Mem
bers
Fi
rst E
mpl
oyed
Pri
or to
Jan
. 1, 2
011
Tier
IITr
aditi
onal
& P
orta
ble
Plan
Mem
bers
Fi
rst E
mpl
oyed
On
or A
fter
Jan
. 1, 2
011
Tier
I &
Tie
r II
R
etir
emen
t Sav
ings
Pla
n
Empl
oyee
Con
trib
utio
ns8%
of p
ensi
onab
le e
arni
ngs
8% o
f pen
sion
able
ear
ning
s8%
of p
ensi
onab
le e
arni
ngs
Min
imum
Ves
ting
5 ye
ars o
f ser
vice
10 y
ears
of s
ervi
ce5
year
s of s
ervi
ce
Ret
irem
ent A
ge
Req
uire
men
ts
Age
62,
with
at l
east
5 y
ears
of s
ervi
ceA
ge 5
5, w
ith a
t lea
st 8
yea
rs o
f ser
vice
(a
ge re
duct
ion
of 0
.5%
for e
ach
mon
th
unde
r age
60
at re
tirem
ent m
ay a
pply
)A
t any
age
, with
at l
east
30
year
s of s
ervi
ce
Age
67,
with
at l
east
10
year
s of s
ervi
ceA
ge 6
2, w
ith re
duct
ion
for a
ge,
with
at l
east
10
year
s of s
ervi
ce
(age
redu
ctio
n of
0.5
% fo
r eac
h m
onth
un
der a
ge 6
7 at
retir
emen
t will
app
ly)
Age
62,
with
at l
east
5 y
ears
of s
ervi
ceA
ge 5
5, w
ith a
t lea
st 8
yea
rs o
f ser
vice
At a
ny a
ge, w
ith a
t lea
st 3
0 ye
ars o
f ser
vice
Age
redu
ctio
n is
not
app
licab
le to
RSP
.
Ret
irem
ent B
enefi
ts
Gre
ater
of t
he b
enefi
ts c
ompu
ted
unde
r SU
RS
Gen
eral
For
mul
a, M
inim
um A
nnui
ty
calc
ulat
ion
and
Mon
ey P
urch
ase
calc
ulat
ion.
(T
he M
oney
Pur
chas
e ca
lcul
atio
n is
not
ava
ilabl
e to
mem
bers
who
cer
tified
on
or a
fter 7
/1/2
005.
)
Gre
ater
of t
he b
enefi
ts c
ompu
ted
un
der S
UR
S G
ener
al F
orm
ula
an
d M
inim
um A
nnui
ty c
alcu
latio
n.
Acc
ount
esta
blish
ed in
mem
ber n
ame.
Mem
ber d
ecid
es
how
to in
vest
sele
ctin
g fro
m v
arie
ty o
f inv
estm
ent
optio
ns in
clud
ing
the
defa
ult i
nves
tmen
t opt
ion,
SU
RS
Life
time
Inco
me
Stra
tegy
(LIS
). Fu
ture
retir
emen
t be
nefit
s are
bas
ed o
n ac
coun
t bal
ance
or t
he a
mou
nt o
f in
com
e se
cure
d th
roug
h th
e LI
S at
retir
emen
t tim
e.
Pens
iona
ble
Ear
ning
s/C
ontr
ibut
ion
Lim
itsIR
S lim
its a
pply
for m
embe
rs h
ired
afte
r 7/1
/199
6.
FY20
21 e
arni
ngs l
imit
is $
285,
000.
FY20
22 e
arni
ngs l
imit
is $
290,
000.
Lim
ited
to a
max
imum
earn
ings
of $
115,
928.
92 fo
r FY
2021
and
$116
,740
.42
for 2
022.
In
crea
ses a
nnua
lly th
erea
fter b
y th
e les
ser o
f 3%
or 1
/2 of
the C
onsu
mer
Pric
e Ind
ex ch
ange
for t
he p
rece
ding
yea
r.
IRS
limits
app
ly.
FY20
21 e
arni
ngs l
imit
is $
285,
000.
FY20
22 e
arni
ngs l
imit
is $
290,
000.
C
alen
dar y
ear 2
021
cont
ribut
ion
limit
is $
58,0
00.
Fina
l Ave
rage
Ear
ning
s (F
AE
)Av
erag
e ea
rnin
gs d
urin
g 4
high
est c
onse
cutiv
e ac
adem
ic y
ears
or t
he a
vera
ge o
f the
last
48
mon
ths
prio
r to
term
inat
ion
(if a
pplic
able
).
Aver
age
earn
ings
dur
ing
the
8 hi
ghes
t con
secu
tive
acad
emic
yea
rs o
f the
last
10
or a
vera
ge e
arni
ngs
of th
e hi
ghes
t 96
cons
ecut
ive
mon
ths d
urin
g th
e
last
120
mon
ths o
f ser
vice
.N
ot a
pplic
able
FAE
Lim
itsLi
mite
d to
20%
yea
r-ove
r-yea
r inc
reas
es
in e
arni
ngs f
or y
ears
in th
e FA
E pe
riod.
Lim
ited
to 2
0% y
ear-o
ver-y
ear i
ncre
ases
in
ear
ning
s for
yea
rs in
the
FAE
perio
d.N
ot a
pplic
able
Ret
irem
ent B
enefi
t AA
I(A
utom
atic
Ann
ual
Incr
ease
)3%
, com
poun
ded
annu
ally
.Th
e le
sser
of 3
% o
r ½ o
f the
cha
nge
in th
e C
onsu
mer
Pr
ice
Inde
x. T
he in
crea
se is
not
com
poun
ded
and
is
dela
yed
until
the
late
r of J
an. 1
follo
win
g ag
e 67
or
Jan.
1 fo
llow
ing
first
ann
iver
sary
of r
etire
men
t.
No
AA
I. H
owev
er, i
f you
inve
st in
the
SUR
S LI
S,
you
have
the
pote
ntia
l to
bene
fit fr
om m
arke
t gai
ns
afte
r ret
irem
ent,
whi
ch c
an in
crea
se y
our m
onth
ly
with
draw
al a
mou
nt.
Surv
ivor
Ben
efits
An
elig
ible
Tra
ditio
nal P
lan
surv
ivor
rece
ives
a
min
imum
of 5
0% o
f a m
embe
r’s e
arne
d re
tirem
ent
annu
ity. P
orta
ble
Plan
mem
ber b
enefi
ts m
ay b
e re
duce
d to
pro
vide
a 5
0%, 7
5% o
r 100
% b
enefi
t to
a sp
ouse
or c
ontin
gent
ann
uita
nt.
An
elig
ible
Tra
ditio
nal P
lan
surv
ivor
rece
ives
a
min
imum
of 6
62/3%
of a
mem
ber’s
ear
ned
retir
emen
t an
nuity
. Por
tabl
e Pl
an m
embe
r ben
efits
may
be
redu
ced
to p
rovi
de a
50%
, 75%
or 1
00%
ben
efit t
o a
spou
se o
r con
tinge
nt a
nnui
tant
.
You
can
choo
se to
pro
vide
a su
rviv
or b
enefi
t. Yo
ur
mon
thly
retir
emen
t ben
efit w
ill b
e re
duce
d to
cov
er
the
cost
of p
rovi
ding
a su
rviv
or b
enefi
t.
Surv
ivor
AA
I3%
, com
poun
ded
annu
ally
.Tr
aditi
onal
Pla
n in
crea
se is
cal
cula
ted
usin
g th
e le
sser
of
3%
or 1
/2 of
the
chan
ge in
the
Con
sum
er P
rice
Inde
x. T
he in
crea
se is
not
com
poun
ded.
For
Por
tabl
e Pl
an, 3
% c
ompo
unde
d an
nual
ly.
If a
mem
ber r
etire
s with
the
SUR
S LI
S an
d pr
ovid
es
a 10
0% Jo
int a
nd S
urvi
vor b
enefi
t, th
e su
rviv
or h
as
the
pote
ntia
l to
bene
fit fr
om m
arke
t gai
ns th
at c
ould
in
crea
se th
e m
onth
ly w
ithdr
awal
am
ount
.
SU
RS
STA
TE U
NIV
ERS
ITIE
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6
LEGISLATION PASSED IN FISCAL YEAR 2018
Public Act 100-0587
Accelerated Pension Benefit Payments
PublicAct100-0587createstwotypesofacceleratedpensionbenefitpaymentoptionsunderSURS:(1)anac-celeratedpensionbenefitpaymentinlieuofapensionbenefitforTierIandTierIIvested,inactivemembersand(2)anacceleratedpensionbenefitpaymentforTierImemberswhoacceptreducedanddelayedautomaticannualincreasesinretirementandsurvivor’sannuities.TheSURSBoardofTrusteesmustestablishanimplementationdateforeachacceleratedpensionbenefitpaymentoptionbyboardresolution.TheboardmustendeavortomaketheoptionsavailableassoonaspossibleafterJune4,2018.
Accelerated Pension Benefit Payment for Tier I and Tier II Vested, Inactive Members
BeginningontheimplementationdateestablishedbytheSURSBoardofTrusteesanduntilJune30,2021,SURSmustoffereacheligiblepersontheopportunitytoirrevocablyelecttoreceivealump-sumpaymentequalto60percentofthepresentvalueofhisorherpensionbenefitsinlieuofreceivinganypensionbenefitfromSURS.Tobeeligiblefortheacceleratedpensionbenefitpayment,thepersonmust:(1)haveterminatedservice;(2)haveaccruedsufficientservicecreditnecessaryforretirement(i.e.,fiveyearsforTierImembersand10yearsforTierIImembers);(3)havenotreceivedaretirementannuityunderSURS;(4)havenotmadetheelectionasaTierImembertoacceptareducedanddelayedautomaticannualincreaseinretirementinexchangeforanacceleratedpensionbenefitpayment;and(5)notbeaparticipantintheSelf-ManagedPlan.Theacceleratedpensionbenefitpaymentmustbedepositedintoataxqualifiedretirementplanoraccountidentifiedbytheeligiblepersonatthetimeoftheelection.ApersonwhoelectstoreceiveanacceleratedpensionbenefitpaymentcannotelecttoproceedundertheRetire-mentSystemsReciprocalActwith respect to service underSURS.Uponpayment of an acceleratedpensionbenefitpaymentfromSURS,thepersonforfeitsallaccruedrightsandcreditsinSURSandnootherbenefitcanbepaidfromSURSbasedonthoseforfeitedrightsandcredits.However,aneligiblepersonwhoreceivesanac-celeratedpensionbenefitpaymentmaystillbeeligibleforanyapplicableretireehealthinsurancebenefits.IfapersonwhohasreceivedanacceleratedpensionbenefitpaymentfromSURSreturnstoparticipationunderSURS,anybenefitsunderSURSearnedasaresultofthatreturntoparticipationmustbebasedsolelyonhisorhercreditsandcreditableservicearisingfromthereturntoparticipation.Uponreturntoparticipation,thepersonmustbeconsideredanewemployeesubjecttoallofthequalifyingconditionsforparticipationandeligibilityforbenefitsapplicabletonewemployees.TheacceleratedpensionbenefitpaymentcannotberepaidtoSURS,andtheforfeitedrightsandcreditscannotunderanycircumstancesbereinstated.
Accelerated Pension Benefit Payment for Tier I Members at Retirement
BeginningontheimplementationdateestablishedbytheSURSBoardofTrusteesanduntilJune30,2021,SURSmustoffereacheligiblepersontheopportunitytoirrevocablyelecttoreceivealump-sumpaymentinexchangeforreducedanddelayedautomaticannualincreasesinretirementandsurvivor’sannuities.Thelump-sumpaymentisanamountequalto70percentofthedifferenceof:(1)thepresentvalueofTierIau-tomaticannualincreasesintheretirementandsurvivor’sannuities;and(2)thepresentvalueofthereducedanddelayedautomaticannualincreasesintheretirementandsurvivor’sannuities.Theautomaticannualincreasesin theretirementandsurvivor’sannuitiesarecalculatedat1.5percentof theoriginallygrantedannuity(non-compounded).TheybeginontheJan.1occurringonorafterthelaterofage67orthefirstanniversaryoftheretirementannuitystartdateandontheJan.1occurringafterthefirstanniversaryofthesurvivor’sannuitystartdate,respectively.Tobeeligiblefortheacceleratedpensionbenefit,thepersonmust:(1)beaTierImember;(2)havesubmittedanapplicationforaretirementannuityfromSURS;(3)meettheageandservicecreditrequirementsnecessaryforretirementunderSURS(i.e.,beanyagewith30yearsofservicecredit,age55witheightyearsofservicecredit,age62withfiveyearsofservicecredit,ormeetthespecialvestingforthePolice/Fireformula);(4)havenotre-ceivedaretirementannuityunderSURS;(5)havenotmadetheelectiontoreceiveanacceleratedpensionbenefit
7
paymentinlieuofanypensionbenefitfromSURS;and(6)notbeaparticipantintheSelf-ManagedPlan.Theacceleratedpensionbenefitpaymentmustbedepositedintoataxqualifiedretirementplanoraccountidentifiedbytheeligiblepersonatthetimeofelection.IfanannuitantwhohasreceivedanacceleratedpensionbenefitpaymentfromSURSreturnstoparticipationun-derSURSthenthecalculationofanyfutureautomaticannualincreaseinretirementannuitymustbecalculatedatthereducedanddelayedrate.TheacceleratedpensionbenefitpaymentcannotberepaidtoSURS.
Funding and Payment of Accelerated Pension Benefit Payments
PublicAct100-0587authorizestheissuanceof$1billioninStatePensionObligationAccelerationBondsforthepurposeofmakingacceleratedpensionbenefitpaymentsunderSERS,SURSandTRS.Theproceedsofthebonds,minustheamountsforbondsaleexpenses,mustbedepositeddirectlyintotheStatePensionObligationAccelerationBondFund.SURSmustsubmitvoucherstothestatecomptrollerforpaymentofacceleratedpensionbenefitpayments.ThestatecomptrollermustpaytheamountsofthevouchersfromtheStatePensionObligationAccelerationBondFundtoSURS,andSURSmustdeposittheamountsintotheapplicabletaxqualifiedplansoraccounts.
6% Rule Changed to 3% (Except for Certain Contracts and Collective Bargaining Agreements)
UnderPublicAct100-0587,foracademicyearsbeginningonorafterJuly1,2018,theemployermustpaythepresentvalueoftheresultingincreaseinbenefitsattributabletoearningsincreasesinexcessof3percentdur-ingtheparticipant’sfinalrateofearningsperiod.However,forearningspaidtoaparticipantunderacontractorcollectivebargainingagreemententeredinto,amended,orrenewedbeforeJune4,2018, theemployerwillcontinuetopaythepresentvalueoftheresultingincreaseinbenefitsattributabletoearningsincreasesinexcessof6percentduringtheparticipant’sfinalrateofearningsperiod.The6%Ruleandthe3%RuledonotapplytoTierIIhybridplanmembersandTierIIdefinedbenefitmemberswhofirstparticipateunderSURSonoraftertheimplementationdateoftheOptionalHybridPlan.
FY 2019 Recertification
PublicAct100-0587requirestheSURSBoardofTrustees,betweenJune15andJune30,2019,torecalculateandrecertifytheFY2019statecontribution,takingintoaccountthechangesmadebythelegislation.Therecertifica-tionmustbebasedontheactuarialassumptionsusedtocertifytheoriginalFY2019statecontribution.ThelastmonthlyvoucherforFY2019mustbepaidbythecomptrolleraftertherecertificationissubmittedtothegover-nor,comptrollerandGeneralAssembly.
8
HISTORY OF STATE CONTRIBUTIONS
PreviousGovernmentalAccountingStandardsBoard(GASB)requirementsprovidedguidanceonhowtodeter-minetheAnnualRequiredContribution(ARC)(definedunderGASBStatements25and27)foraretirementplan.ThisARCwasthesumofthenormalcostandamortizationoftheunfundedaccruedliability.GASBStatements67and68,whichreplaceGASBStatements25and27,nolongerusetheARC.TheARCwillnowbedefinedastheActuariallyDeterminedContribution(ADC)netofmembercontributions.MeasuringtheActualEmployerContribution(StatutoryContribution)againstafundingpolicy(suchastheARC/ADC)helpsevaluatethefundingadequacyoftheactualstatuatorycontributionfundingmethod.Thechartbelowprovidesaninterestingcompari-sonofthestatecontributionovertheyearsasapercentofthenetstateADC.
History of State Contributions (Defined Benefit – in millions)
FiscalYear
TotalActuariallyDeterminedContribution
Member Contributions
NetState/ Employer ADC
Actual ER Contribution
StateContributionas%ofNetADC
1999 509.2 213.0 296.2 237.9 80.32000 547.8 222.5 325.3 241.1 74.12001 548.1 221.6 326.5 247.1 75.72002 686.9 251.6 435.3 256.1 58.82003 843.8 246.3 597.5 285.3 47.72004 934.8 243.8 691.0 1,757.5 254.42005 859.7 251.9 607.8 285.4 47.02006 914.9 252.9 662.0 180.0 27.22007 968.3 262.4 705.9 261.1 37.02008 971.6 264.1 707.5 344.9 48.82009 1,147.3 273.3 874.0 451.6 51.72010 1,278.3 275.0 1,003.3 696.6 69.42011 1,519.2 260.2 1,259.0 773.6 61.42012 1,701.6 258.2 1,443.3 985.8 68.32013 1,794.4 245.1 1,549.3 1,401.5 90.52014 1,843.6 283.1 1,560.5 1,502.9 96.32015 1,890.3 267.7 1,622.7 1,528.5 94.22016 2,090.0 278.9 1,811.1 1,582.3 87.42017 2,143.4 278.6 1,864.8 1,650.6 88.52018 2,144.7 282.7 1,862.0 1,607.9 86.42019 2,519.4 280.0 2,239.4 1,642.2 73.3
SURS Cash Flow (Defined Benefit)
2016 2017 2018 2019StateContributions $1,542,946,474 $1,612,164,501 $1,568,220,976 $1,592,639,155EmployerContributions 39,348,478 38,386,209 39,659,344 49,415,109EmployeeContributions 278,883,776 278,642,830 282,726,126 280,017,618TotalContributions 1,861,178,728 1,929,193,540 1,890,606,446 1,922,071,882BenefitPayments/Expense 2,335,560,290 2,444,313,983 2,554,179,979 2,655,612,184NetNon-InvestmentCashFlow ($474,381,562) ($515,120,443) ($663,573,533) ($733,540,302)
9
FISCAL YEAR 2019 CONTRIBUTION
ThestatecontributiontoSURSforFY2020is$1,854,692,000.Contributionstothefivestateretirementsystemsisapproximately$9,223,500,000.
CONSEQUENCES OF UNDERFUNDING
HistoricalunderfundingofthefivestateretirementsystemshaspositionedIllinoisasoneoftheworstinthenationinpensionfunding.AsofJune30,2019,unfundedliabilitiesforthefivestateretirementsystemstotaledmorethan$137billionandthesystemswere40.3percentfundedbasedonamarketvalueofassets.SURSunfundedactuarialliabilitiestotaled$26.8billion,andSURSwas42.3percentfundedbasedonanactuarialvalueofassets.
Pensionfundinghasasignificant impactonthefiscalstabilityof thestate.Continualfundingof thesystems’certifiedcontributionsensuresstableincreasesincontributionsfromyeartoyear.
Failuretoappropriateanyyear’scertifiedcontributionincreasesthesystems’unfundedliabilitiesandincreaseslong-termcoststothestate.Bondratingagenciescontinuallyhighlightthesystems’unfundedliabilitiesasreasonfordowngrades in the state’sbond rating.Lowerbond ratings significantly impact the state’s cost of issuingpotentialdebt.
0
20
40
60
80
100
20192018201720162015201420132012201120102009200820072006
65.4%
68.4%
58.5%54.3%
46.4%44.3%
42.1%41.5% 42.3% 43.3% 43.3% 44.4% 42.8% 42.3%
Historical Funding RatiosStartingwithfiscalyear2009,thefundingratioswerecalculatedusingtheactuarialvalueofassets.
PriortoFY2009,themarketvalueofassetswereused.
10
Thischartshowstheprojectedtotalstatecontributionsthroughfiscalyear2045,baseduponcurrentactuarialassumptionsandtheJune30,2019,actuarialevaluation.
Funding Projections for SURS(in Millions)
FiscalYear
Annual Payroll*
TotalState Contributions**
State Contributionasa%ofPayroll
TotalEmployee Contribution
ActuarialAccrued
Liabilities
Actuarial ValueofAssets
UnfundedActuarial Accrued
Liabilities
FundedRatio
2019 $4,356.63 $1,642.05 37.69% $280.02 $46,443.94 $19,661.89 $26,782.05 42.33%2020 $4,600.72 $1,827.62 39.72% $284.59 $47,369.16 $20,128.05 $27,241.12 42.49%2021 $4,667.19 $1,958.31 41.96% $285.89 $48,286.22 $20,955.48 $27,330.74 43.40%2022 $4,747.50 $2,030.60 42.77% $288.05 $49,152.54 $21,646.72 $27,505.82 44.04%2023 $4,839.09 $2,087.45 43.14% $291.02 $49,965.47 $22,306.64 $27,658.83 44.64%2024 $4,934.87 $2,154.91 43.67% $294.31 $50,715.24 $23,007.17 $27,708.07 45.37%2025 $5,034.17 $2,193.59 43.57% $297.84 $51,395.29 $23,686.66 $27,708.63 46.09%2026 $5,137.29 $2,237.55 43.56% $301.69 $52,001.68 $24,349.27 $27,652.41 46.82%2027 $5,246.35 $2,284.81 43.55% $305.94 $52,535.02 $25,002.03 $27,532.99 47.59%2028 $5,361.09 $2,330.35 43.47% $310.59 $52,993.06 $25,644.44 $27,348.62 48.39%2029 $5,479.09 $2,378.17 43.40% $315.45 $53,370.09 $26,276.83 $27,093.25 49.24%2030 $5,599.71 $2,423.08 43.27% $320.48 $53,666.15 $26,901.13 $26,765.02 50.13%2031 $5,725.29 $2,471.31 43.16% $325.70 $53,875.42 $27,520.03 $26,355.39 51.08%2032 $5,856.88 $2,528.27 43.17% $331.18 $54,004.42 $28,154.49 $25,849.93 52.13%2033 $5,995.31 $2,594.09 43.27% $337.02 $54,056.37 $28,822.54 $25,233.84 53.32%2034 $6,139.48 $2,693.07 43.86% $343.14 $54,033.05 $29,566.71 $24,466.34 54.72%2035 $6,288.30 $2,758.35 43.86% $349.48 $54,006.92 $30,434.40 $23,572.51 56.35%2036 $6,440.82 $2,825.26 43.86% $356.01 $53,919.32 $31,376.93 $22,542.38 58.19%2037 $6,597.67 $2,894.06 43.86% $362.73 $53,773.19 $32,408.09 $21,365.09 60.27%2038 $6,759.72 $2,965.14 43.86% $369.68 $53,570.96 $33,542.05 $20,028.91 62.61%2039 $6,927.11 $3,038.57 43.86% $376.91 $53,320.96 $34,799.20 $18,521.77 65.26%2040 $7,099.51 $3,114.19 43.86% $384.37 $53,029.98 $36,198.72 $16,831.25 68.26%2041 $7,278.98 $3,192.92 43.86% $392.21 $52,709.19 $37,765.42 $14,943.77 71.65%2042 $7,463.96 $3,274.06 43.86% $400.28 $52,373.27 $39,527.41 $12,845.86 75.47%2043 $7,654.00 $3,357.42 43.86% $408.62 $52,034.97 $41,512.03 $10,522.94 79.78%2044 $7,848.04 $3,442.53 43.86% $417.12 $51,704.27 $43,744.64 $7,959.63 84.61%2045 $8,045.47 $3,529.13 43.86% $425.71 $51,393.52 $46,254.17 $5,139.35 90.00%
*PayrollshownispensionablepayandincludesSMPpayroll.Itdoesnotincludeamountsinexcessofthepaycapsapplicabletomem-bersintheTier2andOptionalHybridPlanparticipatingintheTraditionalandPortableplans.**ExcludesSMPcontributions.Includesemployercontributions.
11
How has SURS done in relation to the market and its peers?
*Netofinvestmentmanagementfees.AsofJune30,2018.Currentperformanceinformationisavailableatwww.surs.org/investments.SURSassumedrateofreturnis6.75percent.
1 yr 3 yrs 5yrs 10 yrs 20 yrs 25yrsSURS* 8.2% 6.8% 8.1% 6.7% 6.4% 8.1%Benchmark 7.9% 6.7% 8.1% 6.8% 6.3% 7.8%PublicFundsIndex 8.6% 7.1% 8.2% 6.4% 6.2% 7.6%
SURS INVESTMENT PROGRAM HISTORYSURShasbeendevelopingitsinvestmentprogramsincetheearly1980s,whenIllinois,likemanyotherstates,changeditslawstoallowthestatepensionfundstoadoptmoderninvestmentpractices.Atthesametime,thenewlawsestablishedahighstandardoffiduciaryresponsibility,namelyadoptingtheprudentexpertrule.Thosechangespermittedtheinvestmentprogramtomodernize,resultinginstrongperformanceandgrowthinassets.Duringthissameperiod,fundingbythestateofIllinoisfellfarshortofboththeactuarialandstatutoryrequire-ments,missinganopportunityforSURStosignificantlyreduce,ifnoteliminate,itsunfundedliability.
Interim Strategic Policy Target(As of Dec. 31, 2019)
TraditionalGrowth
46%
StabilizedGrowth
25% Non-TraditionalGrowth
10%
Inflation Sensitive6%
Principal Protection8%
Crisis Risk Offset5%
12
47
48
54
53
55
45
59
37
58
51
38
44
36
35
52
50
46
56
34
57
Will
Lee
Cook
Pike
Ogle
LaSalle
McLean
Knox
Henry
Fulton
Iroquois
Bureau
Adams
Shelby
Ford
Livingston
Lake
Edgar
Clay
Logan
Peoria
Wayne
Vermilion
Piatt
Clark
Hancock
Fayette
DeKalb
Coles
Champaign
Macoupin
Macon
Madison
Mercer
Mason
White
St. Clair
Marion
Sangamon
Christian
Perry
Tazewell
Warren
Carroll
Cass
Morgan
Whiteside
Jasper
Greene
Bond
Kankakee
Clinton
Jackson
Union
Pope
Grundy
Jo Daviess
Jefferson
Randolph
Saline
Woodford
Stark
Montgomery
Jersey
De Witt
Franklin
Schuyler
Stephenson
Douglas
Monroe
McDonough
Scott
Crawford
Boone
Hamilton
Effingham
Washington
Kendall
DuPage
Gallatin
Richland
Williamson
Johnson
Lawrence
Massac
Cumberland
Hardin
Putnam
Kane
McHenryWinnebago
Marshall
Brown
Moultrie
Menard
Rock Island
Henderson
Calhoun
Wabash
PulaskiAlexander
Edwards
93
106
109
100
74
118
102
94
89
110
107
95
115
73
101
87
90
116
108
76
71
117
91
104
70
10588
9699
75
69
72
114
111
112
68
113
92
67
103
Illinois Legislative Districts
See Northeast Illinois Map
Senate District
House District65
52
J. Cabello-1,275
S. Stadelman-1,684
J. Sosnowski-1,054
A. Chesney-1,040
B. Stewart-3,461
M. West-409D. Syverson-5,501
N. Anderson-1,475
J. Keicher-4,447
T. McCombie-778 T. Demmer-2,421
S. Rezin-1,914L. Yednock-1,004
M. Halpin-697
C. Weaver-2,706
D. Welter-910
D. Swanson-1,114
J. Barickman-5,958
R. Spain-1,592
J. Gordon-Booth-1,066
T. Bennett-1,279
K. Sommer-3,089
D. Koehler-2,124
M. Unes-1,058D. Brady-4,679
D. Caulkins-4,162
R. Frese-1,209N. Hammond-3,474
J. Tracy-4,683 W. Brady-5,041S. Bennett-16,281
M. Marron-6,324
T. Butler-1,952
C. Ammons-9,956
S. Scherer-1,466
S. McClure-5,534M. Murphy-4,473
B. Halbrook-5,414
C. Davidsmeyer-1,061
A. Manar-2,720A. Bourne-1,254
M. Bristow-1,497
C. Miller-3,969
C. Rose-9,576
D. Righter-6,001
B. Wilhour-1,198
R. Crowe-4,017 J. Plummer-2,915
C. Belt-2,450
K. Stuart-2,520C. Meier-1,717
D. Bailey-2,032J. Hoffman-1,243
L. Greenwood-1,207
P. Schimpf-5,698
T. Bryant-4,781N. Reitz-917
D. Fowler-6,025P. Windhorst-2,414
D. Severin-3,611
Number of SURS Members in Each District
ILLINOIS LEGISLATIVE DISTRICTS
13
Will
Cook
LaSalle
Kane
Lake
Livingston
DeKalb
McHenry
Kankakee
Grundy
Boone
DuPage
Kendall
40
32
17
25
26
33
43
31
19
49
41
15
21
29
30
23
18
24
28
27
22
42
9
39
14
4
16
8
10
12 1113
5
31
620
7
2
79
63
34
80
64
50
65
86
52
61
51
49
97 82
29
37
66
85
62
59
38
45
42
54
77
36
41
98
55
47
35
81
48
60
56
84
30
46
4443
33
1857
17
27
83
7
53
28
3123
20
15
21
25
8
22
78
16
6
10
19
9
32
26
1
224
5
3 11
13
39
40
4
12
14
Northeast Illinois Legislative Districts
Senate District
House District65
52
893
728 1 - 1,302
2 - 1,354
1588 3 - 2,036
16384 - 2,652
745
346 5 - 2,582
860 6 - 2,520
7 - 2,637
935 8 - 2,301
1758 58
9 - 2,627
10 - 2,111
11 - 1,187
12 - 1,309
2196
823764
1064
6351401
89013 - 3,081
1242
13062069
637
14 - 2,473
839
1517 1161 1385
838
6781353
751
24 - 2,883
28 - 1,663
1364
613
39 - 2,8251440
1 - 5171086
2 - 7851557
15903 - 4891509
25342794
4 - 865
5 - 1,147
12046 - 8891475
1409
1448555
854
7 - 1,4112751
157228088 - 1,241
9 - 1,739
1926
1027704
1276 14561017
873
10 - 843
11 - 1,080
8991520 13 - 1,284
2565 16 - 1,140
1534 19 - 1,091
1176
1077
1389 120520 - 1,020
21 - 494
830
1419
1252
2125
22 - 693
2549
23 - 669
24 - 640
32 - 792
36 - 1,2881344
39 - 734
40 - 794
2459 47 - 1,326
53 - 1,005
55 - 825
1040 77 - 640
78 - 2,185
11
2
3
4
5
6
7
8
9
10
11
13
16
19
20
21
22
23
24
32
36
39
40
47
53
55
77
78
39
28
24
20
16
14
13
12
11
10
9
8
7
6
5
4
3
2
1J. Mason-789
M. Bush-1,715 M. Hunter-2,672
K. Lightford-2,893S. Reick-758 C. Wilcox-1,669
P. Van Pelt-3,257
S. Yingling-926
H. Steans-2,924
M. Edly-Allen-993
F. Crespo-648
S. Feigenholtz-2,555
R. Villivalam-2,506
L. Fine-2,612
D. McConchie-1,912
A. Johnson-1,035
T. Weber-911
R. Martwick-2,393
C. Villanueva-1,555
M. Mussman-848
J. Gong-Gershowitz-1,377
R. Gabel-1,235J. Carroll-670
D. Didech-690
R. Mayfield-345
B. Morgan-732
D. Ugaste-1,542
D. McSweeney-918
A. Skillicorn-967 S. Landek-1,556T. Morrison-1,073
R. Peters-3,140D. DeWitte-2,509
E. Jones-2,366A. Gillespie-2,119
C. Castro-1,436
J. Morrison-1,402
A. Moeller-788
A. Muñoz-1,794
O. Aquino-1,736
J. Collins-1,991J. D’Amico-1,199
Pacione-Zayas-1,929
K. Cassidy-1,432 S. Glowiak Hilton-3,114
L. Murphy-1,725
T. Cullerton-1,498 D. Harmon-2,880
A. Ortiz-629K. Villa-1,168
T. Mah-1,165
L. Ellman-2,972
G. Wehrli-1,371
M. Batinick-1,260
A. Grant-1,600
D. Pappas-801
T. Costa Howard-1,675
J. Pizer-1,411
S. Kifowit-938
D. Conroy-697
K. Buckner-1,610 E. Delgado-658
J. Oberweis-2,849
B. Hernandez-606
L. Holmes-1,544
D. Ramirez-1,078
L. Robinson-1,647K. Wheeler-1,681
S. Harper-1,025
E. Welch-1,589
L. Ford-1,304
P. Joyce-2,466
E. Sims-2,486
N. Harris-2,157
P. McGuire-1,503
M. Hastings-2,729
J. Bertino-Tarrant-2,235
B. Cunningham-2,978
J. Curran-2,987
L. Collins-2,133
N. Manley-974
A. Stava-Murray-1,571
J. Connor-731
M. McDermed-1,366
M. Flowers-1,158
J. Durkin-1,416
C. Tarver-1,530
J. Slaughter-1,379J. Williams-1,124
A. Williams-1,144
F. Hurley-1,584
W. Davis-899
G. Harris-1,492
Y. Kalish-1,307
L. LaPointe-1,287
R. Rita-987
D. Meyers-Martin-1,363 M. Evans-1,177B. Stephens-1,106
E. Gonzalez-656
L. Walsh-772
T. Jones-1,258 M. Madigan-899
M. Zalewski-755
E. Hernandez-801
A. DeLuca-1,451 A. Thapedi-833
K. Burke-1,394N. Smith-1,309
W. Guzzardi-919
J. Andrade-1,010
D. Mazzochi-1,439
M. Walker-1,046
M. Moylan-877
L. Parkhurst-1,015 K. Willis-650
C. Lilly-2,228
Number of SURS Members in Each DistrictNORTHEAST ILLINOIS LEGISLATIVE DISTRICTS
AllSURS Active& Benefit AnnualDistrict Members* Inactive* Recipients* NetBenefits*1 AntonioMuñoz 1,794 1,592 202 $5,990,7172 OmarAquino 1,736 1,549 187 $5,182,7723 MattieHunter 2,672 2,163 509 $18,351,8594 KimberlyA.Lightford 2,893 2,173 720 $25,969,9825 PatriciaVanPelt 3,257 2,830 427 $16,531,8776 SaraFeigenholtz 2,555 2,035 520 $23,442,8327 HeatherA.Steans 2,924 2,419 505 $18,622,9998 RamVillivalam 2,506 1,833 673 $23,916,5319 LauraFine 2,612 1,741 871 $39,175,71310 RobertF.Martwick 2,393 1,847 546 $16,989,22811 CelinaVillanueva 1,555 1,307 248 $7,705,64112 StevenM.Landek 1,556 1,291 265 $7,779,12013 RobertPeters 3,140 2,274 866 $34,327,54814 EmilJones,III 2,366 1,572 794 $22,369,66315 NapoleonHarris,III 2,157 1,479 678 $20,076,93116 JacquelineY.Collins 1,991 1,490 501 $13,806,16517 ElgieR.Sims,Jr. 2,486 1,689 797 $22,793,84918 BillCunningham 2,978 2,116 862 $29,421,54019 MichaelE.Hastings 2,729 1,940 789 $25,062,29720 CristinaPacione-Zayas 1,929 1,693 236 $7,373,58321 LauraEllman 2,972 2,292 680 $22,854,94022 CristinaCastro 1,436 1,155 281 $7,209,98523 ThomasCullerton 1,498 1,194 304 $10,097,14824 SuzyGlowiakHilton 3,114 2,241 873 $32,967,35525 JimOberweis 2,849 2,280 569 $17,361,34626 DanMcConchie 1,912 1,459 453 $15,015,75227 AnnGillespie 2,119 1,535 584 $18,010,38228 LauraM.Murphy 1,725 1,302 423 $13,026,17929 JulieA.Morrison 1,402 984 418 $16,070,99130 AdrianeJohnson 1,035 806 229 $7,524,44131 MelindaBush 1,715 1,346 369 $12,125,46232 CraigWilcox 1,669 1,197 472 $14,165,45733 DonaldP.DeWitte 2,509 1,858 651 $21,239,43634 SteveStadelman 1,684 1,125 559 $14,017,20035 DaveSyverson 5,501 3,468 2,033 $69,532,51936 NeilAnderson 1,475 937 538 $13,822,42437 ChuckWeaver 2,706 1,906 800 $19,822,12938 SueRezin 1,914 1,418 496 $11,883,25039 DonHarmon 2,880 2,208 672 $26,309,56240 PatrickJ.Joyce 2,466 1,747 719 $22,472,24241 JohnF.Curran 2,987 2,154 833 $32,798,54542 LindaHolmes 1,544 1,285 259 $6,844,83743 PatMcGuire 1,503 1,175 328 $9,608,86844 WilliamE.Brady 5,041 3,504 1,537 $39,997,42145 BrianW.Stewart 3,461 2,232 1,229 $34,392,33746 DavidKoehler 2,124 1,578 546 $12,711,33247 JilTracy 4,683 2,756 1,927 $60,597,64648 AndyManar 2,720 1,933 787 $18,617,19349 JenniferBertino-Tarrant 2,235 1,737 498 $13,882,13250 SteveMcClure 5,534 3,782 1,752 $49,301,43551 ChapinRose 9,576 6,096 3,480 $118,116,34952 ScottM.Bennett 16,281 10,857 5,424 $225,235,57153 JasonA.Barickman 5,958 4,066 1,892 $65,238,56354 JasonPlummer 2,915 2,062 853 $18,932,92355 DaleA.Righter 6,001 3,819 2,182 $63,540,00156 RachelleCrowe 4,017 2,711 1,306 $40,925,89657 ChristopherBelt 2,450 1,656 794 $17,818,41358 PaulSchimpf 5,698 3,475 2,223 $76,223,02359 DaleFowler 6,025 3,726 2,299 $66,163,284 Total 183,563 130,095 53,468 $1,741,364,814
14
SURS MEMBERSHIP COUNTS AND NET BENEFITS BY SENATE DISTRICT
*AsofMarch18,2020
15
AllSURS Active& Benefit AnnualDistrict Members* Inactive* Recipients* NetBenefits*1 AaronM.Ortiz 629 533 96 $2,917,6422 TheresaMah 1,165 1,059 106 $3,073,0753 EvaDinaDelgado 658 561 97 $2,287,0044 DeliaC.Ramirez 1,078 988 90 $2,895,7685 LamontJ.Robinson,Jr. 1,647 1,310 337 $11,951,2716 SonyaM.Harper 1,025 853 172 $6,400,5887 EmanuelChrisWelch 1,589 1,183 406 $15,354,1408 LaShawnK.Ford 1,304 990 314 $10,615,8429 LakesiaCollins 2,133 1,865 268 $11,100,40810 JawaharialWilliams 1,124 965 159 $5,431,46911 AnnM.Williams 1,144 976 168 $6,567,61312 Jonathan“Yoni”Pizer 1,411 1,059 352 $16,875,21813 GregoryHarris 1,492 1,282 210 $8,061,89214 KellyM.Cassidy 1,432 1,137 295 $10,561,10715 JohnC.D’Amico 1,199 886 313 $10,838,69916 YehielM.Kalish 1,307 947 360 $13,077,83217 JenniferGong-Gershowitz 1,377 927 450 $19,823,61218 RobynGabel 1,235 814 421 $19,352,10119 LindseyLaPointe 1,287 1,021 266 $8,256,13420 BradleyStephens 1,106 826 280 $8,733,09321 EdgarGonzalez,Jr. 656 560 96 $3,055,47822 MichaelJ.Madigan 899 747 152 $4,650,16323 MichaelJ.Zalewski 755 614 141 $4,457,15024 ElizabethHernandez 801 677 124 $3,321,96925 CurtisJ.Tarver,II 1,530 1,084 446 $16,092,77326 KambiumBuckner 1,610 1,190 420 $18,234,77527 JustinSlaughter 1,379 926 453 $13,245,31728 RobertRita 987 646 341 $9,124,34629 ThaddeusJones 1,258 833 425 $13,152,00230 WilliamDavis 899 646 253 $6,924,92831 MaryE.Flowers 1,158 847 311 $8,545,00532 AndréThapedi 833 643 190 $5,261,15933 MarcusC.Evans,Jr. 1,177 795 382 $10,940,76534 NicholasK.Smith 1,309 894 415 $11,853,08435 FrancesAnnHurley 1,584 1,137 447 $16,199,00036 KellyM.Burke 1,394 979 415 $13,222,54037 MargoMcDermed 1,366 989 377 $11,762,32138 DebbieMeyers-Martin 1,363 951 412 $13,299,97639 WillGuzzardi 919 810 109 $3,426,48740 JaimeM.Andrade,Jr. 1,010 883 127 $3,947,09641 GrantWehrli 1,371 1,080 291 $9,483,71742 AmyGrant 1,600 1,212 388 $13,253,94443 AnnaMoeller 788 626 162 $4,215,83744 FredCrespo 648 529 119 $2,994,14845 DianePappas 801 639 162 $5,540,30646 DebConroy 697 555 142 $4,556,84247 DeanneM.Mazzochi 1,439 1,048 391 $16,160,18448 TerraCostaHoward 1,675 1,193 482 $16,807,17049 KarinaVilla 1,168 944 224 $7,153,13950 KeithR.Wheeler 1,681 1,336 345 $10,208,20751 MaryEdly-Allen 993 735 258 $9,321,09952 DavidMcSweeney 918 724 194 $5,569,99353 MarkL.Walker 1,046 744 302 $9,611,64654 ThomasMorrison 1,073 791 282 $8,398,73655 MartinJ.Moylan 877 640 237 $7,848,45656 MichelleMussman 848 662 186 $5,177,72457 JonathanCarroll 670 500 170 $5,929,63958 BobMorgan 732 484 248 $10,141,35259 DanielDidech 690 543 147 $5,008,87860 RitaMayfield 345 263 82 $2,515,563
SURS MEMBERSHIP COUNTS AND NET BENEFITS BY HOUSE DISTRICT
*AsofMarch18,2020
AllSURS Active& Benefit AnnualDistrict Members* Inactive* Recipients* NetBenefits*61 JoyceMason 789 616 173 $5,608,12462 SamYingling 926 730 196 $6,517,33863 StevenReick 758 546 212 $6,142,36464 TomWeber 911 651 260 $8,023,09465 DanUgaste 1,542 1,077 465 $16,095,66766 AllenSkillicorn 967 781 186 $5,143,76967 MauriceA.West,II 409 308 101 $2,286,61668 JohnM.Cabello 1,275 817 458 $11,730,58469 JoeSosnowski 1,054 738 316 $8,257,95870 JeffKeicher 4,447 2,730 1,717 $61,274,56271 TonyMcCombie 778 520 258 $6,536,94272 MichaelHalpin 697 417 280 $7,285,48273 RyanSpain 1,592 1,142 450 $11,798,56174 DanielSwanson 1,114 764 350 $8,023,56875 DavidA.Welter 910 723 187 $4,448,03476 LanceYednock 1,004 695 309 $7,435,21577 KathleenWillis 650 537 113 $2,582,98478 CamilleY.Lilly 2,228 1,671 557 $23,632,73479 LindsayParkhurst 1,015 732 283 $7,519,23880 AnthonyDeLuca 1,451 1,015 436 $14,953,00481 AnneStava-Murray 1,571 1,163 408 $15,044,72782 JimDurkin 1,416 991 425 $17,753,81783 BarbaraHernandez 606 464 142 $3,013,16084 StephanieA.Kifowit 938 821 117 $3,831,67785 JohnConnor 731 568 163 $4,834,45386 LawrenceWalsh,Jr. 772 607 165 $4,774,41587 TimButler 1,952 1,411 541 $11,859,56888 KeithP.Sommer 3,089 2,093 996 $28,137,85289 AndrewS.Chesney 1,040 678 362 $9,658,69790 TomDemmer 2,421 1,554 867 $24,733,64091 MichaelD.Unes 1,058 761 297 $6,656,49392 JehanGordon-Booth 1,066 817 249 $6,054,83993 NorineK.Hammond 3,474 1,956 1,518 $51,951,86994 RandyE.Frese 1,209 800 409 $8,645,77795 AveryBourne 1,254 894 360 $7,045,96196 SueScherer 1,466 1,039 427 $11,571,23297 MarkBatinick 1,260 1,004 256 $7,364,14898 NatalieA.Manley 974 732 242 $6,517,98499 MikeMurphy 4,473 3,044 1,429 $42,741,898100 C.D.Davidsmeyer 1,061 738 323 $6,559,538101 DanCaulkins 4,162 2,658 1,504 $49,839,411102 BradHalbrook 5,414 3,438 1,976 $68,276,938103 CarolAmmons 9,956 7,025 2,931 $122,253,114104 MichaelT.Marron 6,324 3,832 2,492 $102,897,693105 DanBrady 4,679 3,215 1,464 $53,561,122106 ThomasM.Bennett 1,279 851 428 $11,677,441107 BlaineWilhour 1,198 825 373 $7,884,219108 CharlesMeier 1,717 1,237 480 $11,048,703109 DarrenBailey 2,032 1,525 507 $9,098,002110 ChrisMiller 3,969 2,294 1,675 $54,441,999111 MonicaBristow 1,497 973 524 $13,775,212112 KatieStuart 2,520 1,738 782 $27,150,684113 JayHoffman 1,243 849 394 $8,586,958114 LaToyaGreenwood 1,207 807 400 $9,231,455115 TerriBryant 4,781 2,824 1,957 $70,744,750116 NathanD.Reitz 917 651 266 $5,478,272117 DaveSeverin 3,611 2,255 1,356 $37,983,817118 PatrickWindhorst 2,414 1,471 943 $28,179,467 Total 183,557 130,094 53,463 $1,740,944,266
16
SURS MEMBERSHIP COUNTS AND NET BENEFITS BY HOUSE DISTRICT
*AsofMarch18,2020
17
PERTINENT LEGISLATIVE COMMITTEES AND MEMBERS
101ST GENERAL ASSEMBLY
SENATE
PensionsChairperson:RobertF.Martwick
MinoritySpokesperson:DonaldP.DeWitteMembers:OmarAquino,MelindaBush,CristinaCastro, LauraEllman,StevenM.Landek,HeatherA.Steans,
JohnF.Curran,DaleFowler,SueRezin
Higher EducationChairperson:PatMcGuireVice-Chairperson:CelinaVillanueva
MinoritySpokesperson:SteveMcClureMembers:OmarAquino,ScottM.Bennett,BillCunningham,LauraEllman,
EmilJonesIII,LauraM.Murphy,SteveStadelman,PatriciaVanPelt, DaleFowler,DanMcConchie,ChapinRose,ChuckWeaver
Special Committee on Pension InvestmentsCo-Chairperson:NapoleonHarris,IIICo-Chairperson:DonaldP.DeWitteChristopherBelt,RobertF.Martwick,CelinaVillanueva,RamVillivalam,
SteveMcClure,BrianW.Stewart,JilTracy
HOUSE
Appropriations-Higher EducationChairperson:LaShawnK.FordVice-Chairperson:NicholasK.Smith
RepublicanSpokesperson:DanBradyMembers:CarolAmmons,TerriBryant,KellyM.Burke,JohnConnor,MichaelHalpin, NorineK.Hammond,JeffKeicher,JoyceMason,DebbieMeyers-Martin,MikeMurphy,
AaronM.Ortiz,DaveSeverin,MauriceA.WestII
Higher Education Chairperson:CarolAmmonsVice-Chairperson:KatieStuart
RepublicanSpokesperson:NorineK.HammondMembers:DanBrady,MonicaBristow,TerriBryant,KambiumBuckner,KellyM.Burke,
JenniferGong-Gershowitz,EdgarGonzalezJr.,BarbaraHernandez,ElizabethHernandez,JayHoffman,JeffKeicher,MichaelT.Marron,TonyMcCombie,DaveSeverin,EmanuelChrisWelch,
MauriceA.WestII,PatrickWindhorst
Personnel & PensionsChairperson:VacantVice-Chairperson:MichaelJ.Zalewski
RepublicanSpokesperson:MarkBatinickMembers:CarolAmmons,KellyM.Burke,LaShawnK.Ford,GregoryHarris,
ThomasMorrison,StevenReick,LamontJ.RobinsonJr.,BlaineWilhour
Formoreinformationgotowww.ilga.gov.
December 2020
CONTACT INFORMATIONStateUniversitiesRetirementSystemofIllinois
1901FoxDriveChampaign,IL61820
800-275-7877FAX:217-378-9800
www.surs.org
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