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Illinois Retirement Security Initiative (IRSI)

The goal of the Illinois Retirement Security Initiative is to ensure public retirement benefits in the state of Illinois are adequately financed and designed to attract high quality employees to the public sector. The Initiative will research, educate and advocate for public policies toward that end.

 

Illinois Public Employee Retirement Systems
The five public employee retirement systems in Illinois are the: State Employees' Retirement System ('SERS'), Teachers' Retirement System ('TRS'), State Universities Retirement System ('SURS'), Judges' Retirement System ('JRS') and General Assembly Retirement System ('GARS'). Three primary sources of contributions finance Illinois' State retirement systems: employee contributions, employer contributions and returns on investments. Each chart is a representation of Illinois public employees and retirees within the five state funded retirement systems.

National Association of State Retirement Administrators: Faulty Analysis is Unhelpful to State & Local Pension Sustainability Efforts.
As state and local governments lead efforts to address the unprecedented fiscal challenges created by stagnant economies, in the face of aging populations and workforces, the accuracy and integrity of information is more vital than ever. Robert Norvy-Marx and Joshua Rauh – who also earlier this year authored, Are State Public Pensions Sustainable? – again vastly underestimate projected future contributions to public pension plans and expected investment returns to draw dramatic and improbable conclusions regarding the solvency of these plans.

 

 

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