February 21, 2012

• SUPPLEMENTAL DIGEST TO RETIREMENT SYSTEMS' AUDITS
  
  According to figures provided by the retirement systems, the cumulative unfunded actuarial accrued liability for the five State financed retirement systems as of June 30, 2011 was $82.9 billion when using the “smoothed” valuation of assets. The unfunded actuarial accrued liability increased $7.2 billion (9.5%) during FY2011 when using this method. Pursuant to Public Act 96-0043, during FY2009 the State changed from valuing retirement system assets for actuarial purposes from fair value for the calculation of annual required contributions to a methodology which “smoothes” gains or losses incurred during a fiscal year in equal amounts over a five year period, beginning with the year the gains or losses were first incurred. When using the fair value of assets, the unfunded accrued liability decreased $2.5 billion (2.9%) during FY2011.
  
  To view additional information, please click HERE to read the FULL Supplemental Digest
  
  
  
  
• State Employees Retirement System of Illinois – Financial Audit
  Summary Report Digest - PDF (best version for printing)
  Summary Report Digest*
  Full Report
  
  
• Judges' Retirement System of Illinois – Financial Audit
  Summary Report Digest - PDF
  Summary Report Digest*
  Full Report
  
  
• General Assembly Retirement System of Illinois – Financial Audit
  Summary Report Digest - PDF
  Summary Report Digest*
  Full Report
  
  
• Western Illinois University – Financial Audit
  Summary Report Digest - PDF
  Summary Report Digest*
  Full Report
  
  
• Regional Office of Education #03: Bond, Effingham and Fayette Counties – Financial Audit
  Summary Report Digest - PDF
  Summary Report Digest*
  Full Report
  
  
• Regional Office of Education #12: Clay, Crawford, Jasper, Lawrence and Richland Counties – Financial Audit
  Summary Report Digest - PDF
  Summary Report Digest*
  Full Report
  
  
• Regional Office of Education #21: Franklin and Williamson Counties – Financial Audit
  Summary Report Digest - PDF
  Summary Report Digest*
  Full Report
  
  
• Regional Office of Education #24: Grundy and Kendall Counties – Financial Audit
  Summary Report Digest - PDF
  Summary Report Digest*
  Full Report
  
  

• Regional Office of Education #54: Vermilion County – Financial Audit
  Summary Report Digest - PDF
  Summary Report Digest*
  Full Report