Office for University Relations

Pensions

University of Illinois employees participate in one of the three retirement plan options offered by the State Universities Retirement System (SURS). According to Gov. Quinn's pension website, the average pension of a SURS annuitant is just under $35,000. SURS was founded in 1941 and has more than 210,000 members.

The state of Illinois has not adequately funded public pensions over the last decade. As of the end of FY11, total unfunded liability for the five state public pension systems was $83.1 billion. The SURS portion of the liability was $17.6 billion.

Exacerbated by the economic downturn that began in 2008, the state ended FY12 (June 2012) with more than $7.5 billion in unpaid bills

On December 3, 2013, the General Assembly passed a pension reform bill (Senate Bill 1). Numerous news stories dated Dec. 3 and 4 provided details about the vote and changes that will impact current and future retirees.

SURS provides a summary of the bill and its impact.

University statements