Champaign, IL – The State Universities Retirement System’s Board of Trustees voted on October 23 to commit $150 million dollars to Fairview Lincoln Fund 1 Series D, subject to successful completion of contract negotiations, based upon the recommendations from SURS staff and Meketa.
The SURS Board, based upon the recommendations from SURS staff and Meketa, voted to retain Graham Capital for their Absolute Return strategy and Wellington for their Macro Strategies Fund, both with an investment in the amount of $300-400 million. Each of these are subject to successful completion of contract and fee negotiations.
In other actions:
- Based on the recommendation of Gabriel, Roeder, Smith & Company (GRS) the Employer Normal Cost Rate of 11.58% be approved for FY27
- The amount of $11,707,648 be certified for FY27 as the contribution to the Community College Health Insurance Security Fund
- Based on the recommendation of Gabriel, Roeder, Smith & Company (GRS) the amount of $2,368,598,000 be certified for FY27 as the preliminary proposed State Contribution
Each year, an independent actuary retained by SURS evaluates the System and determines the required state contribution under the formula outlined in Illinois law (40 ILCS 5/15-155). The formula requires the state to make an annual contribution to SURS that will allow it to reach a funded status of 90% by the end of fiscal year 2045. Several actuarial assumptions impact the state contribution including the investment return, mortality rates and salary growth. The final state contribution amount for Fiscal Year 2027 will be certified by the SURS Board of Trustees in December. The next meetings of the SURS Board of Trustees will be December 4 and 5, 2025.