News Features
Effective Rates of Interest
02/10/2010The SURS Board of Trustees approved a 7.5% effective rate of interest for fiscal year 2010–2011. The effective rate of interest is set by the board after considering various factors such as the System's past and expected investment experience, as well as historical and expected fluctuations in the market value of investments.
Public Act 94-4 requires the Illinois Office of the Comptroller (IOC) to annually set the effective rate of interest used in computing the Money Purchase Formula. The IOC has approved a rate of 7% for the 2010–2011 fiscal year. |