REPORT DIGEST

JUDGES’ RETIREMENT SYSTEM OF THE STATE OF
ILLINOIS

FINANCIAL AUDIT
FOR THE YEAR ENDED JUNE 30, 2024

Release Date:  January 14, 2025

FINDINGS THIS AUDIT: 0
FINDINGS LAST AUDIT: 0

State of Illinois, Office of the Auditor
General
FRANK J. MAUTINO, AUDITOR GENERAL

To obtain a copy of the Report contact:
Office of the Auditor General, 400 West
Monroe, Suite 306, Springfield, IL
62704-9849
(217) 782-6046 or TTY (888) 261-2887

This Report Digest and Full Report are also
available on the worldwide web at
www.auditor.illinois.gov

INTRODUCTION

This digest covers the financial statement
audit of the Judges’ Retirement System of
the State of Illinois (System) as of and for
the year ended June 30, 2024.

The System’s total pension liability is
$3,157.4 million at June 30, 2024, an
increase of $59.2 million from $3,098.3
million at June 30, 2023. The System’s net
pension liability at June 30, 2024 is
$1,759.0 million, which is the difference
between the System’s fiduciary net position
of $1,398.4 million and the total pension
liability. The System’s net position as a
percentage of the total pension liability is
44.29% as of June 30, 2024, as compared to
42.68% at June 30, 2023. The criteria used
for computing pension liability information
in the financial report in accordance with
GASB Statement No. 67 differs from the
criteria used to compute the actuarial
accrued liability and actuarial unfunded
liability under the State’s funding plan,
therefore this information under the State’s
funding plan is no longer reported in the
financial statements. There were no findings
reported under Government Auditing Standards
in our audit.

AUDITOR’S OPINION

The auditors stated the financial statements
of the System as of and for the year ended
June 30, 2024, are fairly stated in all
material respects.

This financial audit was conducted by RSM US
LLP.

JANE CLARK
Division Director

This report is transmitted in accordance
with Section 3-14 of the Illinois State
Auditing Act.

FRANK J. MAUTINO
Auditor General

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