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The Illinois Municipal Retirement Fund (or IMRF) is the second largest and best-funded public pension system in Illinois. Since 1941, has partnered with local units of government to provide retirement, disability and death benefits for public employees. With a funded status of about 98 percent and more than $50 billion in assets, IMRF is well ...
The Illinois pension crisis refers to the rising gap between the pension benefits owed to eligible state employees and the amount of funding set aside by the state to make these future pension payments. As of 2020, the size of Illinois' pension obligation is $237B, but the state's pension funds have only $96B available for payouts to retirees.
This list of largest pension funds in the United States involves two main groups: government pension funds for public employees and collectively bargained pension funds, jointly managed between employer and employee representatives after the Taft-Hartley Act of 1947.
Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.
Allen Dorfman. Allen Melnick Dorfman[2] (January 6, 1923 – January 20, 1983) was an American insurance agency owner and a consultant to the International Brotherhood of Teamsters (IBT) Central States Pension Fund. He was a close associate of longtime IBT President Jimmy Hoffa and associated with organized crime via the Chicago Outfit.
The State Universities Retirement System, or SURS, is an agency in the U.S. state of Illinois government that administers retirement, disability, death, and survivor benefits to eligible SURS participants and annuitants. Membership in SURS is attained through employment with 61 employing agencies, [1] including public universities, community ...
Pages in category "Public pension funds in the United States". The following 35 pages are in this category, out of 35 total. This list may not reflect recent changes . List of largest pension schemes in the United States. Public employee pension plans in the United States.
t. e. The Illinois Public Pension Amendment was a proposed amendment to the Illinois state constitution. On November 6, 2012, Illinois voters rejected it in a statewide referendum. [1] A legislatively referred constitutional amendment, if approved, it would have amended the Constitution of Illinois. [1] The measure would have made it so that a ...