The State Retirement Systems of Illinois administers three separate systems, each with its own board of trustees: SERS, the General Assembly Retirement System, and the Judges Retirement System. The systems share a common administrative staff. SERS administers a single employer pension plan and other benefits for state employees who do not qualify for membership in another state system. Assets are managed by the State Board of Investments.
Illinois State Retirement Systems Basics, by Plan
| Plan |
Assets (millions) |
Total Members |
| Illinois SERS |
23,352.7 |
143,675 |
| Other Plans |
0 |
0 |
| Total |
23,352.7 |
143,675 |
Source: Public Plans Database (as of 2023)
Note: Illinois State Retirement Systems has 0 other plans.
Assets
Assets at Year-End
Illinois State Retirement Systems
2001-2023
| 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 |
| 2020 |
19.2 |
| 2021 |
23.9 |
| 2022 |
22.2 |
| 2023 |
23.4 |
Membership
Ratio of Actives to Beneficiaries, 2001-2023
| Fiscal Year |
Illinois State Retirement Systems |
US State and Local Pensions |
| 2001 |
1.9 |
2.4 |
| 2002 |
1.8 |
2.3 |
| 2003 |
1.3 |
2.2 |
| 2004 |
1.3 |
2.1 |
| 2005 |
1.3 |
2.1 |
| 2006 |
1.2 |
2.0 |
| 2007 |
1.2 |
2.0 |
| 2008 |
1.2 |
1.9 |
| 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 |
1.4 |
| 2015 |
0.9 |
1.4 |
| 2016 |
0.9 |
1.4 |
| 2017 |
0.8 |
1.4 |
| 2018 |
0.8 |
1.3 |
| 2019 |
0.8 |
1.3 |
| 2020 |
0.8 |
1.3 |
| 2021 |
0.8 |
1.2 |
| 2022 |
0.8 |
1.2 |
| 2023 |
0.8 |
1.2 |
2023 Membership for Illinois State Retirement Systems
| Actives |
Beneficiaries |
Inactive Vested |
Total Membership |
# of Participating Employers |
| 61,651 |
78,189 |
3,835 |
143,675 |
1 |
Cash Flows
Cash Flow vs. Total Assets (Millions)
Illinois State Retirement Systems
2001-2023
| 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 |
| 2020 |
-123.9 |
19,197.3 |
| 2021 |
-128.4 |
23,883.3 |
| 2022 |
-82.0 |
22,224.5 |
| 2023 |
-207.7 |
23,352.7 |
2023 Cash Flows for Illinois State Retirement Systems (millions)
| Inflows |
Outflows |
Investment Gains (losses) |
Change in Net Assets |
| 2,964.1 |
3,171.8 |
1,335.9 |
1,128.2 |
Cash Flow as a Percentage of Assets
Illinois State Retirement Systems
2001-2023
| Fiscal Year |
Illinois State Retirement Systems |
National Average |
| 2001 |
-0.3 |
-2.1 |
| 2002 |
-0.7 |
-2.0 |
| 2003 |
-2.5 |
-2.5 |
| 2004 |
10.7 |
-2.0 |
| 2005 |
-4.3 |
-2.2 |
| 2006 |
-6.5 |
-2.2 |
| 2007 |
-5.0 |
-2.1 |
| 2008 |
-3.7 |
-2.3 |
| 2009 |
-3.6 |
-3.1 |
| 2010 |
-0.8 |
-3.2 |
| 2011 |
-1.5 |
-3.1 |
| 2012 |
-0.1 |
-3.3 |
| 2013 |
-0.5 |
-3.1 |
| 2014 |
0.1 |
-2.9 |
| 2015 |
0.0 |
-2.8 |
| 2016 |
-0.6 |
-3.0 |
| 2017 |
-1.9 |
-2.9 |
| 2018 |
-1.9 |
-2.6 |
| 2019 |
-0.5 |
-2.6 |
| 2020 |
-0.6 |
-2.4 |
| 2021 |
-0.5 |
-2.1 |
| 2022 |
-0.4 |
-2.1 |
| 2023 |
-0.9 |
-2.1 |
