US public pension profile· SURS
State Universities Retirement System of Illinois
Funding, investment choices and long-term returns.
Illinois ·Fiscal year 2025
SURS: fiscal year 2025 at a glance
- Market value of assets
- USD 25.2 billion
- Total membership
- 256,110
- Funded ratio
- 47.12%
- Assumed investment return
- 6.50%
Asset allocation in 2025
| Public equity | 34.50% |
|---|---|
| Fixed income | 21.50% |
| Private equity | 18.60% |
| Real estate | 11.40% |
| Hedge funds | 11.30% |
| Cash | 2.70% |
Returns to 2025
| One year | 6.40% |
|---|---|
| Five years | 8.20% |
| Ten years | 7.00% |
SURS: size and funding over time
| Fiscal year | Market value of assets | Membership | Funded ratio | Return assumption |
|---|---|---|---|---|
| 2001 | USD 10.8 billion | 162,040 | 72.10% | 8.50% |
| 2002 | USD 9.8 billion | 165,849 | 58.93% | 8.50% |
| 2003 | USD 9.7 billion | 176,523 | 53.89% | 8.50% |
| 2004 | USD 12.6 billion | 186,456 | 65.97% | 8.50% |
| 2005 | USD 13.4 billion | 189,751 | 65.60% | 8.50% |
| 2006 | USD 14.2 billion | 195,113 | 65.36% | 8.50% |
| 2007 | USD 16.0 billion | 200,347 | 68.43% | 8.50% |
| 2008 | USD 14.6 billion | 205,141 | 58.54% | 8.50% |
| 2009 | USD 11.0 billion | 208,135 | 54.27% | 8.50% |
| 2010 | USD 12.1 billion | 212,083 | 46.37% | 7.75% |
| 2011 | USD 14.3 billion | 212,903 | 44.25% | 7.75% |
| 2012 | USD 13.7 billion | 217,029 | 42.06% | 7.75% |
| 2013 | USD 15.0 billion | 220,727 | 41.49% | 7.75% |
| 2014 | USD 17.4 billion | 223,735 | 42.33% | 7.75% |
| 2015 | USD 17.5 billion | 227,789 | 43.28% | 7.25% |
| 2016 | USD 17.0 billion | 229,807 | 43.26% | 7.25% |
| 2017 | USD 18.5 billion | 231,333 | 44.43% | 7.25% |
| 2018 | USD 19.3 billion | 232,993 | 42.75% | 6.75% |
| 2019 | USD 19.7 billion | 236,039 | 42.34% | 6.75% |
| 2020 | USD 19.6 billion | 239,531 | 42.23% | 6.75% |
| 2021 | USD 23.8 billion | 240,307 | 43.94% | 6.50% |
| 2022 | USD 22.5 billion | 243,316 | 45.23% | 6.50% |
| 2023 | USD 23.2 billion | 247,963 | 45.80% | 6.50% |
| 2024 | USD 24.3 billion | 252,981 | 46.02% | 6.50% |
| 2025 | USD 25.2 billion | 256,110 | 47.12% | 6.50% |
SURS: asset allocation over time
| Fiscal year | Public equity | Fixed income | Private equity | Real estate | Hedge funds | Cash |
|---|---|---|---|---|---|---|
| 2001 | 62.00% | 30.00% | 3.00% | 3.00% | 2.00% | 0.00% |
| 2002 | 58.00% | 31.00% | 3.00% | 3.00% | 5.00% | 0.00% |
| 2003 | 58.59% | 30.30% | 3.03% | 2.02% | 6.06% | 0.00% |
| 2004 | 65.00% | 28.00% | 2.00% | 2.00% | 3.00% | 0.00% |
| 2005 | 62.38% | 27.72% | 2.97% | 4.95% | 1.98% | 0.00% |
| 2006 | 63.92% | 22.68% | 4.12% | 7.22% | 2.06% | 0.00% |
| 2007 | 62.38% | 23.76% | 5.94% | 5.94% | 1.98% | 0.00% |
| 2008 | 59.00% | 27.00% | 8.00% | 6.00% | 0.00% | 0.00% |
| 2009 | 60.40% | 25.74% | 8.91% | 4.95% | 0.00% | 0.00% |
| 2010 | 57.34% | 26.57% | 8.89% | 6.19% | 1.00% | 0.00% |
| 2011 | 60.40% | 23.50% | 8.10% | 6.70% | 1.30% | 0.00% |
| 2012 | 58.00% | 25.00% | 8.30% | 7.20% | 1.50% | 0.00% |
| 2013 | 61.90% | 23.90% | 7.20% | 6.50% | 0.50% | 0.00% |
| 2014 | 62.90% | 23.10% | 6.10% | 7.50% | 0.40% | 0.00% |
| 2015 | 56.10% | 27.20% | 5.60% | 8.70% | 0.40% | 0.00% |
| 2016 | 52.40% | 27.00% | 5.40% | 9.90% | 3.40% | 0.00% |
| 2017 | 52.20% | 25.60% | 5.20% | 9.60% | 5.60% | 0.00% |
| 2018 | 51.00% | 26.30% | 5.70% | 9.40% | 5.60% | 0.00% |
| 2019 | 49.80% | 27.90% | 7.10% | 8.70% | 4.60% | 0.00% |
| 2020 | 43.90% | 29.70% | 8.10% | 7.40% | 9.70% | 1.20% |
| 2021 | 38.50% | 29.20% | 9.40% | 6.40% | 12.20% | 0.60% |
| 2022 | 34.90% | 21.70% | 14.00% | 9.10% | 19.10% | 1.20% |
| 2023 | 35.70% | 23.40% | 15.30% | 11.30% | 14.20% | 0.10% |
| 2024 | 33.80% | 22.80% | 16.90% | 11.10% | 14.80% | 0.60% |
| 2025 | 34.50% | 21.50% | 18.60% | 11.40% | 11.30% | 2.70% |
SURS: investment returns
Each year shows the return over the preceding one, five and ten years.
| Fiscal year | One year | Five years | Ten years |
|---|---|---|---|
| 2001 | -8.80% | 10.60% | 10.90% |
| 2002 | -6.10% | 5.10% | 9.20% |
| 2003 | 2.90% | 2.30% | 8.30% |
| 2004 | 17.00% | 3.30% | 10.00% |
| 2005 | 10.40% | 2.60% | 9.40% |
| 2006 | 11.70% | 6.90% | 8.70% |
| 2007 | 18.30% | 11.90% | 8.50% |
| 2008 | -4.50% | 10.30% | 6.20% |
| 2009 | -19.70% | 2.30% | 2.80% |
| 2010 | 15.00% | 3.10% | 2.90% |
| 2011 | 23.80% | 5.30% | 6.10% |
| 2012 | 0.50% | 1.90% | 6.80% |
| 2013 | 12.50% | 5.30% | 7.70% |
| 2014 | 18.20% | 13.70% | 7.80% |
| 2015 | 2.90% | 11.20% | 7.10% |
| 2016 | 0.20% | 6.60% | 5.90% |
| 2017 | 12.20% | 9.00% | 5.40% |
| 2018 | 8.20% | 8.10% | 6.70% |
| 2019 | 6.00% | 5.80% | 9.70% |
| 2020 | 2.60% | 5.80% | 8.50% |
| 2021 | 23.80% | 10.30% | 8.50% |
| 2022 | -1.40% | 7.50% | 8.30% |
| 2023 | 5.30% | 7.00% | 7.50% |
| 2024 | 8.30% | 7.40% | 6.60% |
| 2025 | 6.40% | 8.20% | 7.00% |