1901 Fox Drive
Champaign, IL 61820
NIU Naperville Outreach Center
1120 E. Diehl Road
Naperville, Illinois 60563
(By appointment only – no mail delivery)
For contact information, visit our Contact page.
SURS – Living Our Mission
SURS Annual Comprehensive Financial Report
The Annual Comprehensive Financial Report for the State Universities Retirement System of Illinois (SURS).
All About SURS
This booklet is a brief, yet comprehensive look at the System, our investment and funding history, membership, benefit distribution and relevant legislation. Information is updated on a regular basis.
SURS In Brief
This flyer succinctly outlines membership, investment and benefit figures, and provides a retirement-plan comparison chart.
SURS Funding Highlights
View funding highlights, a dashboard of monthly state payments and information on how SURS is funded.
SURS History and Membership
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 educational and scientific 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 166 full-time employees in offices in Champaign and Naperville and provides benefit services to over 240,000 members throughout the world. SURS has a total operating budget of $30,754,180 for FY 2022.
*Number denotes combining of several campuses.
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.
Senior Administrative Staff
|Suzanne Mayer||Executive Director
|Douglas Wesley||Chief Investment Officer||[email protected]|
|Michael Schlachter||Chief Investment Officer Designee||[email protected]|
|Bianca T. Green||General Counsel and Freedom of Information Officer||[email protected]|
|Tara Myers||Chief Financial Officer||[email protected]|
|Jefferey Saiger||Chief Technology Officer||[email protected]|
|Suzanne Mayer||Chief Benefits Officer||[email protected]|
|Nichole Hemming||Chief Human Resources Officer||[email protected]|
|Jackie Hohn||Chief Internal Auditor||[email protected]|
Board of Trustees
|Andriy Bodnaruk||Elected Trustee||[email protected]|
|Richard Figueroa||Appointed Trustee||[email protected]|
|Jamie-Clare Flaherty||Appointed Trustee||[email protected]|
|J. Fred Giertz||Elected Trustee||[email protected]|
|Scott Hendrie||Appointed Trustee||[email protected]|
|Pranav Kothari||Appointed Trustee||[email protected]|
|John Lyons||Appointed Trustee||[email protected]|
|Steven Rock||Elected Trustee||[email protected]|
|Collin Van Meter||Elected Trustee||[email protected]|
|Antonio Vasquez||Elected Trustee||[email protected]|
|Mitchell Vogel||Elected Trustee||[email protected]|
SURS Organizational Chart
Legislation Affecting SURS
SURS was created by the governor and General Assembly in 1941. Consistent with that, changes to the existing benefit program must be enacted through legislation. Examples of SURS-related legislative action can be found in the passage of yearly appropriation bills and the pension reform acts of 2010 and 2013. Changes in state law will continue to affect the agencies we serve, the benefits we provide and how we are funded.
For more information on legislation affecting SURS, view our Legislation page.