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.

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.

In November 2014, a Sangamon County Circuit Court judge issued a final declaratory judgment that

“Public Act 98-0599 is unconstitutional and void in its entirety.”  The court also ordered that the preliminary injunction preventing State defendants (including SURS) from implementing the Act since May 14, 2014, become permanent. - See more at: http://www.surs.com/news-article/112114/circuit-judge-finds-pension-reform-unconstitutional#sthash.1XhM6RMR.dpuf
“Public Act 98-0599 is unconstitutional and void in its entirety.”  The court also ordered that the preliminary injunction preventing State defendants (including SURS) from implementing the Act since May 14, 2014, become permanent. - See more at: http://www.surs.com/news-article/112114/circuit-judge-finds-pension-reform-unconstitutional#sthash.1XhM6RMR.dpuf
Public Act 98-0599 is unconstitutional and void in its entirety. The question is expected to be decided in 2015 by the Illinois Supreme Court.

University Relations

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