• Reminders

    Important Dates:
    HCAFA Executive Committee Meetings
    Light Meal Served
    At Harper College, Rooms Listed Below
    12:00 - 2:30, L200

    Summer 2017
    • Friday, May 12, 2017
    • Friday, June 9,2017
    • Friday, July 14, 2017
    • Friday, Aug. 11, 2017

    For information or to check if the time or location has been changed, call Hasmig or Amy at the IEA office
    (847 359-0300).

DON’T BE FOOLED! SURS IS SUSTAINABLE!

 Why SURS is Sustainable!

The rate of return for FY 2011 on SURS investments was 23.8 percent.  SURS is a long-term investor and since 1986, the average annual rate of return was 8.8 percent.  Do not get confused with the short-term returns when the long-term is what matters.

 The numbers to focus on are the amounts SURS pays out in pensions and benefits in a year.  During the last fiscal year, SURS paid out $1.6 billion in benefits, but collected $4.1 billion in revenue, more than enough to meet current obligations.

The total value of SURS assets continues to improve.  At the end of FY 2009, SURS held $11.03 billion.  At the end of FY 2010, SURS held $12.12 billion.  As of 6/30/2011, SURS held $14.24 billion.  That’s a 22.5 percent increase in two years.

It’s important to note that SURS and its investments and contributions from its membership will continue to accrue principal and interest over the remainder of a member’s life as long as unused equity exists.

 As of 6/30/2011, SURS had total liabilities of $31.5 billion and an unfunded liability of $17.2 billion.  While the media frets about the unfunded liability, the total amount is never due all at once.  Don’t confuse the mortgage with the mortgage payment.

 Contributions to SURS since 1996:

Since 1996 SURS has received $11.2 billion in employer/state/member contributions.

 Investment income plus employer/state/member contributions has totaled $24.8 billion since 1996.

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