Press Releases
The latest press releases from SURS. For press inquiries, click here.
Governor Proposes Supplemental Pension Payment to Reduce Long-Term Liabilities, Renews Promise to Protect Retiree Benefits
Champaign, IL - Gov. Pritzker on Wednesday introduced his fiscal year 2023 budget that includes the full certified state contribution to the State Universities Retirement System (SURS) of $2,118,567,000. To reduce the unfunded liabilities of the five state-funded...
IBHE Recommends Funding Increases to Improve Equity
The Illinois Board of Higher Education (IBHE), the board that oversees the needs and guides the policies of the State Universities Retirement System’s (SURS) 61 employers, on Monday approved a 7% increase to their FY 23 budget to further fund their equity-driven...
SURS Board Certifies FY 2023 State Contribution and Effective Rate of Interest, Retains Securities Lender
Champaign, IL – The State Universities Retirement System (SURS) Board of Trustees on Dec. 3 certified the System’s fiscal year 2023 state contribution at $2,118,567,000, an increase of $17,288,000 from FY 2022. Each year, an independent actuary retained by SURS...
SURS Board of Trustees Appoints New Director
CHAMPAIGN, Ill. – The State Universities Retirement System (SURS) Board of Trustees has named Interim Executive Director and Chief Benefits Officer Suzanne Mayer as the new executive director of the state pension fund. SURS oversees $28.1 billion in defined benefit...
SURS Board Approves $150 Million in Real Asset Commitments
Champaign, IL – The State Universities Retirement System (SURS) Board of Trustees on Sept. 10 voted to commit $100 million to Pantheon Global Infrastructure Fund IV and $50 million to Blackstone Real Estate Partners Asia Fund III, subject to successful contract...
SURS Lowers Assumed Rate to 6.5%, Assigns Millions to Real Assets Funds, Hires Executive Search Firm
Champaign, IL – The State Universities Retirement System (SURS) Board of Trustees on June 4 voted to decrease their long-term investment return assumption rate from 6.75% to 6.5%, effective June 30. The rate was last reduced in June 2018 from 7.25% to 6.75%. The...
SURS Members Elect Trustees to New Terms
Current board members Mitchell Vogel and Fred Giertz have been elected to continue serving on the State Universities Retirement System (SURS) Board of Trustees by the System’s annuitants.
SURS Assigns Up To $30 Million To Real Estate Fund
Champaign, IL - The State Universities Retirement System (SURS) Board of Trustees approved a commitment of the lesser of $30 million or 10 percent of total fund commitments to Newport Capital Fund III, the closed-end, non-core real estate fund managed by Newport...
SURS Commits to Real Estate Debt Allocations, Updates DC Policy
Champaign, IL - The State Universities Retirement System (SURS) Board of Trustees on March 12 committed the lesser of $50 million or 10 percent of total fund commitments to Basis Investment Group Real Estate Fund II, subject to successful completion of contract...
SURS Executive Director Resigns
Champaign, IL — Martin Noven, executive director of the State Universities Retirement System (SURS), resigned his position on Feb. 18 to focus his attention on a new career opportunity. SURS Board of Trustees thanked Noven for his accomplishments over the past...