Florida Retirement System (FRS) vs State Universities Retirement System of Illinois (SURS)
Side-by-side pension health comparison from DOL and public plan data
Florida Retirement System (FRS) and State Universities Retirement System of Illinois (SURS) are meaningfully apart on the LakeQuality pension-health rubric: Florida Retirement System (FRS) grades B while State Universities Retirement System of Illinois (SURS) grades D. Funding ratios: 82% vs 44%.
Florida Retirement System (FRS) comes out ahead on the composite rubric. For a participant in either plan, the spread is informative but not directly actionable — pension participation is not portable, so the relevant question is what each plan's funded-status trajectory means for that participant's benefit security.
Verdict
Florida Retirement System (FRS) has a stronger Pension Health Score of 76/100 (B) compared to State Universities Retirement System of Illinois (SURS) at 42/100 (D). Funding ratios differ by 38.1 percentage points (82.2% vs 44.1%). Florida Retirement System (FRS) covers 1,065,000 participants.
| Metric | Florida Retirement System (FRS) | State Universities Retirement System of Illinois (SURS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 76/100 (B)* | 42/100 (D) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 82.2%* | 44.1% |
| Total Assets | $190.0B | $22.5B |
| Total Liabilities | $231.1B | $51.0B* |
| Unfunded Liability | $41.1B | $28.5B* |
| Participants | 1,065,000 | 218,000 |
| 1-Year Investment Return | 6.5%* | 5.1% |
| Plan Type | public | public |
| PBGC Risk Level | low | critical |
| Sponsor | State of Florida | State of Illinois |
Florida Retirement System (FRS) has a stronger Pension Health Score of 76/100 (B) compared to State Universities Retirement System of Illinois (SURS) at 42/100 (D). Funding ratios differ by 38.1 percentage points (82.2% vs 44.1%). Florida Retirement System (FRS) covers 1,065,000 participants.