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The State Universities Retirement System, or SURS, is an agency in the U.S. state of Illinois government that administers retirement, disability, death, and survivor benefits to eligible SURS participants and annuitants. Membership in SURS is attained through employment with 61 employing agencies, [1] including public universities, community ...
The Illinois General Assembly created the Teachers’ Retirement System of the State of Illinois (TRS or the System) in 1939 for the purpose of providing retirement annuities, and disability and survivor benefits for educators employed in public schools outside the city of Chicago. The System's enabling legislation is in the Illinois Pension ...
The Illinois pension crisis refers to the rising gap between the pension benefits owed to eligible state employees and the amount of funding set aside by the state to make these future pension payments. As of 2020, the size of Illinois' pension obligation is $237B, but the state's pension funds have only $96B available for payouts to retirees. [1]
The wealthiest state for average retirement savings is Connecticut, at $545,754, with Alaska and Vermont following closely at $503,822 and $494,569, respectively. ... Illinois. Average Retirement ...
Finally, GOBankingRates found (3) how many years $500,000 will last in each state by dividing $500,000 by each state's average annual expenditures estimate. All 50 states and the District of ...
Methodology: GOBankingRates looked at the average retirement age in every state, as reported by Money Talk News on Sep. 29, 2019, using data from the U.S. Census Bureau's latest American Community ...
The Illinois Municipal Retirement Fund (or IMRF) is the second largest and best-funded public pension system in Illinois. Since 1941, has partnered with local units of government to provide retirement, disability and death benefits for public employees. With a funded status of about 98 percent and more than $50 billion in assets, IMRF is well ...
With 30.77% of New Hampshire respondents boasting retirement funds greater than $300,000, however, just one state has a greater concentration of high savers. New Hampshire is also the best state ...