| Pension Information
On this morning of October 9, 2008, Jon Bauman (TRS), William Atwood (ISBI), and Dan Slack (SURS) sent a media release stating the following:
Illinois Pension Systems Issue Statement on Stability of Retirement Benefits
A Joint Statement of the Teacher’s Retirement System of the State of Illinois, the Illinois State Board of Investment, and the Illinois State Universities Retirement System
Members of the Illinois state retirement systems can rest assured that their retirement benefits remain secure despite the current volatility in the global financial
markets. The benefits delivered by the state pension systems are constitutionally protected and cannot be reduced due to investment losses or for any reason. Those
protections also exist under the contracts clause of the U.S. Constitution.
Additionally, the state retirement systems have structured their investment portfolios to effectively endure market declines over the long term.
The Teachers’ Retirement System, the Illinois State Board of Investment, and the Illinois State Universities Retirement System each have investments in a number
of different asset classes. This diversification has minimized recent investment losses and maximized returns when the financial markets have performed well.
Each system employs a stable of investment professionals that have the expertise and experience needed to effectively navigate the plans through the unstable
market conditions.
Finally, while the systems recognize the grave realities of the current financial markets, we are well-equipped to look beyond the fear that has permeated our
society in order to make investment decisions that are in the best interests of our members. The state retirement systems remain stable and our benefits are
reliable.
-End-
State Universities Annuitants Association
3085 Stevenson Dr., Suite 301
Springfield, IL 62703
(217) 585-2370
(888) 547-8473 Toll Free
(217) 585-2372 Fax
suaa@suaa.org
www.suaa.org
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