TEACHERS RETIREMENT SYSTEM
OF THE STATE OF ILLINOIS
For the Year Ended:
June 30, 2000
State of Illinois
Office of the Auditor General
WILLIAM G. HOLLAND
To obtain a copy of the Report contact:
(217)782-6046 or TDD (217) 524-4646
This Report Digest is also available on
Unfunded Liability at June 30, 2000 Totals $11,405 million
This digest covers our financial audit of the System for the year ended June 30, 2000. A compliance audit covering the year ending June 30, 2000 will be issued separately.
UNDERFUNDING OF THE SYSTEM
The actuarial accrued liability was valued at $35,886 million at June 30, 2000. The actuarial value of assets (at market) totaled approximately $24,481 million at June 30, 2000. The difference between the liability and the assets of $11,405 million reflects the unfunded liability of the System at June 30, 2000. The Teachers Retirement System had a funded ratio of 68.2% at June 30, 2000.
Our auditors state that the June 30, 2000 financial statements of the System are fairly presented in all material respects.
WILLIAM G. HOLLAND, Auditor General
SPECIAL ASSISTANT AUDITORS
Friedman Eisenstein Raemer and Schwartz, LLP were our special assistant auditors for this audit.