How much money has Illinois paid into its retirement systems this fiscal year?
|Type||Current FY Amount||Previous FY Amount|
|SERS, SURS, JRS, AND GARS||$1,502,436,173.72||$3,447,029,133.71|
|SURS (Annual certified payment from State Pensions Fund)||$140,000,000.00||$215,000,000.00|
About Pension System Funding
Each year, the state is required to make contributions to its statutory pension systems: State Employees' Retirement System (SERS), State Universities Retirement System (SURS), Judges' Retirement System (JRS), General Assembly Retirement System (GARS) and Teachers' Retirement System (TRS). The state's contributions to SERS come from payment requests directly from SERS and from state agency payrolls. Contributions to GARS, JRS, SURS and TRS are vouchered directly by those pension systems. Additionally, the Chicago Teachers' Pension Fund (CTPF) receives some state appropriations, though the system is primarily funded by Chicago residents.