Illinois SERS Basics

  • Established 1944
  • Currently open to new hires
  • Plan covers state and local employees
  • Plan members covered by Social Security
  • Single employer

Assets, Participants, and Benefits

Assets at Year-End, Illinois SERS, 2001-2019

Fiscal Year Net Assets (billions)
2001 8.3
2002 7.7
2003 7.5
2004 10.0
2005 10.5
2006 10.9
2007 12.1
2008 11.0
2009 8.5
2010 9.2
2011 11.0
2012 11.0
2013 12.4
2014 14.6
2015 15.3
2016 15.0
2017 16.5
2018 17.5
2019 18.5

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year Illinois SERS US State and Local Pensions
2001 1.9 2.5
2002 1.8 2.4
2003 1.3 2.3
2004 1.3 2.2
2005 1.3 2.1
2006 1.2 2.1
2007 1.2 2.0
2008 1.2 2.0
2009 1.1 1.9
2010 1.1 1.8
2011 1.1 1.7
2012 1.0 1.6
2013 0.9 1.5
2014 0.9 1.5
2015 0.9 1.5
2016 0.9 1.4
2017 0.8 1.4
2018 0.8 1.3
2019 0.8 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Illinois SERS, 2001-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 10.3 0.0 5.0 8.3 8.3
2002 10.4 0.0 4.8 8.3 8.3
2003 10.9 1.5 5.7 12.3 12.3
2004 13.9 2.8 7.3 16.8 16.8
2005 12.3 8.6 9.0 20.9 20.9
2006 5.9 12.9 9.3 18.8 18.8
2007 9.5 12.4 10.0 21.9 21.9
2008 14.8 10.0 10.4 24.9 24.9
2009 19.2 5.7 10.2 24.9 24.9
2010 26.6 2.0 10.5 28.6 28.6
2011 26.8 3.8 12.5 30.6 30.6
2012 32.1 5.2 12.9 37.3 37.3
2013 36.2 4.9 13.9 41.1 41.1
2014 38.5 5.8 14.5 44.3 44.3
2015 40.5 5.4 14.9 45.9 45.9
2016 43.9 3.2 14.8 47.1 47.1
2017 42.9 7.9 15.1 50.8 50.8
2018 45.5 19.1 18.1 64.6 64.6
2019 49.2 15.6 18.9 64.8 64.8

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Illinois SERS, 2001-2019

Fiscal Year Illinois SERS National Data
2001 65.8 106.5
2002 53.7 101.1
2003 42.6 94.2
2004 54.2 93.1
2005 54.4 91.1
2006 52.2 90.5
2007 54.2 91.2
2008 46.1 90.2
2009 43.5 83.2
2010 37.4 81.5
2011 35.6 80.4
2012 34.7 78.9
2013 34.2 78.7
2014 34.0 79.0
2015 36.2 78.2
2016 34.4 76.3
2017 35.4 76.4
2018 36.5 76.5
2019 37.8 76.0

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for Illinois SERS, 2019

Category Percent
Equities 49.0
Fixed Income 31.0
Private Equity 4.0
Real Estate 9.0
Cash 1.0
Other 0.0
Commodities 2.0
Hedge Fund 4.0
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.1
Fixed Income 22.6
Private Equity 9.3
Real Estate 9.1
Cash 1.6
Other 0.0
Commodities 1.9
Hedge Fund 6.8
Misc. Alternatives 1.6

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Illinois SERS, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 64.0 26.0 6.0 4.0 0.0 0.0 0.0 0.0 0.0
2002 62.0 28.0 5.0 5.0 0.0 0.0 0.0 0.0 0.0
2003 64.0 22.0 6.0 8.0 0.0 0.0 0.0 0.0 0.0
2004 62.0 28.0 4.0 6.0 0.0 0.0 0.0 0.0 0.0
2005 60.0 29.0 4.0 7.0 0.0 0.0 0.0 0.0 0.0
2006 57.0 25.0 4.0 10.0 0.0 0.0 0.0 4.0 0.0
2007 59.0 22.0 5.0 10.0 0.0 0.0 0.0 4.0 0.0
2008 54.0 22.0 7.0 12.0 0.0 0.0 0.0 5.0 0.0
2009 47.0 25.0 8.0 10.0 0.0 0.0 0.0 10.0 0.0
2010 47.0 25.0 8.0 10.0 0.0 0.0 0.0 10.0 0.0
2011 47.0 25.0 8.0 10.0 0.0 0.0 0.0 10.0 0.0
2012 47.0 25.0 10.0 9.0 0.0 0.0 0.0 9.0 0.0
2013 48.0 24.0 9.0 10.0 0.0 0.0 0.0 9.0 0.0
2014 46.0 27.0 4.0 10.0 0.0 0.0 3.0 10.0 0.0
2015 45.0 28.0 4.0 10.0 0.0 0.0 3.0 10.0 0.0
2016 41.0 32.0 4.0 11.0 0.0 0.0 4.0 8.0 0.0
2017 44.0 35.0 4.0 9.0 0.0 0.0 3.0 5.0 0.0
2018 41.0 42.0 4.0 9.0 0.0 0.0 2.0 2.0 0.0
2019 49.0 31.0 4.0 9.0 1.0 0.0 2.0 4.0 0.0

Source: Public Plans Database


Annual Return as of June 30 for Illinois SERS, 2001-2019

Fiscal Year Illinois SERS Assumed return
2001 -7.10 8.50
2002 -6.90 8.50
2003 0.30 8.50
2004 16.40 8.50
2005 10.10 8.50
2006 11.00 8.50
2007 17.10 8.50
2008 -6.20 8.50
2009 -20.10 8.50
2010 9.10 7.75
2011 21.70 7.75
2012 0.10 7.75
2013 14.10 7.75
2014 17.90 7.25
2015 4.70 7.25
2016 -0.80 7.00
2017 12.30 7.00
2018 7.60 7.00
2019 7.10 6.75

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Illinois SERS
2001-2019

Fiscal Year Cash Flow Assets
2001 -21.9 8,276.7
2002 -56.7 7,673.9
2003 -186.8 7,502.1
2004 1,066.2 9,990.2
2005 -449.6 10,494.1
2006 -707.5 10,899.9
2007 -600.9 12,078.9
2008 -402.8 10,995.4
2009 -308.6 8,477.9
2010 -75.9 9,201.8
2011 -161.3 10,970.8
2012 -16.0 10,960.7
2013 -61.6 12,400.3
2014 11.9 14,581.6
2015 -4.1 15,258.9
2016 -94.9 15,038.5
2017 -321.2 16,530.2
2018 -323.9 17,463.3
2019 -89.8 18,491.9

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Illinois SERS
2001-2019

Fiscal Year Illinois SERS National Average
2001 -0.3 -2.3
2002 -0.7 -2.3
2003 -2.5 -2.6
2004 10.7 -1.7
2005 -4.3 -1.9
2006 -6.5 -1.9
2007 -5.0 -1.7
2008 -3.7 -1.9
2009 -3.6 -2.7
2010 -0.8 -2.9
2011 -1.5 -2.8
2012 -0.1 -3.1
2013 -0.5 -3.0
2014 0.1 -2.7
2015 -0.0 -2.8
2016 -0.6 -3.0
2017 -1.9 -2.9
2018 -1.9 -2.4
2019 -0.5 -2.7

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Illinois SERS benefit descriptions.