About SURS
In 1941, a four-year study concluded with the formation of the University Retirement System. The act provided “for the creation, maintenance, and administration of a Retirement System for the benefit of the staff members and employees of the University of Illinois and certain other state agencies.” Ruth Ellen Kunkel was the System’s first employee and administrator.
In 1942, the System had 3,760 participants and added two additional staff members. In the following years, the University Retirement System grew to include other universities, colleges, and affiliated agencies throughout the state.
In 1963, the System adopted its current name, State Universities Retirement System (SURS).
Today SURS serves 61 employers* in Illinois including state universities, community colleges, and state agencies. It employs approximately 185 full-time employees in offices in Champaign and Naperville and provides benefit services to over 255,000 members throughout the world. SURS has a total operating budget of $36,544,583 for FY 2025.
*Number denotes combining of several campuses.
SURS Mission
How We Succeed This Year and Beyond
All About SURS
This booklet is a look at the System, our investment and funding history, membership, benefit distribution and relevant legislation.
SURS In Brief
This flyer succinctly outlines membership, investment and benefit figures, and provides a retirement-plan comparison chart.
How SURS is Funded
View funding highlights, a dashboard of monthly state payments and information on how SURS is funded.
SURS Governance
SURS is governed by an 11-member board of trustees. Four trustees are elected by active SURS members, two trustees are elected by retired SURS members, and five trustees are appointed by the governor of Illinois (one of whom is the chairperson of the Illinois Board of Higher Education). The governor designates the board chairperson from among the eleven trustees. All appointed trustees must be approved by the Illinois Senate. Trustees serve six-year terms.
The board meets at minimum seven times per year. Agendas are posted 48 hours prior to each meeting.
The SURS Board of Trustees has a fiduciary duty to administer the System in compliance with the requirements of Articles 1 and 15 of the Illinois Pension Code.
Members of the public who would like to make public comments during any SURS Board of Trustees or Committee meetings that are open to the public must comply with the requirements found in Title 80, Subtitle D, Chapter II, Section 1600.120 (i)(1) and (2) of the Illinois Register. Click here for details.
Board of Trustees
| Name | Title | |
|---|---|---|
| John Lyons | Chairperson/Appointed Trustee | jlyons@surs.org |
| Collin Van Meter | Vice Chairperson/Elected Trustee | cvanmeter@surs.org |
| Scott Hendrie | Treasurer/Appointed Trustee | shendrie@surs.org |
| Andriy Bodnaruk | Elected Trustee | abodnaruk@surs.org |
| Richard Figueroa | Appointed Trustee | rfigueroa@surs.org |
| J. Fred Giertz | Elected Trustee | fgiertz@surs.org |
| Jeanine Jiganti | Appointed Trustee | jjiganti@surs.org |
| Pranav Kothari | Appointed Trustee | pkothari@surs.org |
| Herbert Pitman | Elected Trustee | hpitman@surs.org |
| Steven Rock | Elected Trustee | srock@surs.org |
| Antonio Vasquez | Elected Trustee | avasquez@surs.org |
Senior Administrative Staff
| Name | Title | |
|---|---|---|
| Suzanne Mayer | Executive Director |
Executive_Director@surs.org |
| Michael Schlachter | Chief Investment Officer | Chief_Investment_Officer@surs.org |
| Bianca T. Green | General Counsel and Freedom of Information Officer | General_Counsel@surs.org |
| Tara Myers | Chief Financial Officer | Chief_Financial_Officer@surs.org |
| Jefferey Saiger | Chief Technology Officer | Chief_Technology_Officer@surs.org |
| Nichole Hemming | Chief Human Resources Officer | Chief_Human_Resources_Officer@surs.org |
| Jackie Hohn | Chief Internal Auditor | Chief_Internal_Auditor@surs.org |
Senior Organizational Structure
SURS Board of Trustees
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SURS Executive Director
- Chief investment officer
- General Counsel
- Chief Technology Officer
- Chief Financial Officer
- Chief Human Resources Officer
- Chief Internal Auditor
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Actuarial Consultant
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External Auditors
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Investment Consultant
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Outside Legal Counsel
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