HR1100 99TH GENERAL ASSEMBLY

HR1100 LRB099 21119 GRL 46376 r

HOUSE RESOLUTION

WHEREAS, The University Retirement System of Illinois became effective on September 1, 1941 to provide retirement annuities and other benefits for employees of the University of Illinois and other State colleges and universities; and

WHEREAS, The University Retirement System of Illinois became known as the State Universities Retirement System on March 18, 1963; and

WHEREAS, The State Universities Retirement System is governed by a Board of Trustees, comprised of four elected contributing members, two elected annuitant members, and five appointed members, including the Chair of the Board of Higher Education; and

WHEREAS, The State Universities Retirement System offers three retirement plan options for its members, including the Traditional Defined-Benefit Plan, Portable Defined-Benefit Plan, and the Self-Managed Plan; and

WHEREAS, The State Universities Retirement System manages $19.2 billion worth of assets and has achieved a 30-year rate of return of 9.2% as of State Fiscal Year 2015; and

WHEREAS, The State Universities Retirement System annually processes more than $2.2 billion in member benefits as of State Fiscal Year 2015; and

WHEREAS, The State Universities Retirement System currently serves more than 60 employers and administers pension benefits for more than 228,000 members as of State Fiscal Year 2015; and

WHEREAS, The State Universities Retirement System continues to serve its mission of securing and delivering the retirement benefits promised to its members; therefore, be it

RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE NINETY-NINTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we congratulate the State Universities Retirement System on its 75th anniversary and thank them for their professionalism and dedication to public service; and be it further

RESOLVED, That a suitable copy of this resolution be presented to the Board of Trustees of the State Universities Retirement System.