Illinois Municipal Retirement Fund (IMRF) vs State Employees Retirement System of Illinois (SERS)
Side-by-side pension health comparison from DOL and public plan data
Illinois Municipal Retirement Fund (IMRF) and State Employees Retirement System of Illinois (SERS) are meaningfully apart on the LakeQuality pension-health rubric: Illinois Municipal Retirement Fund (IMRF) grades A while State Employees Retirement System of Illinois (SERS) grades D. Funding ratios: 81% vs 40%.
Illinois Municipal Retirement Fund (IMRF) 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
Illinois Municipal Retirement Fund (IMRF) has a stronger Pension Health Score of 80/100 (A) compared to State Employees Retirement System of Illinois (SERS) at 40/100 (D). Funding ratios differ by 40.8 percentage points (81.2% vs 40.4%). Illinois Municipal Retirement Fund (IMRF) covers 438,000 participants.
| Metric | Illinois Municipal Retirement Fund (IMRF) | State Employees Retirement System of Illinois (SERS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 80/100 (A)* | 40/100 (D) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 81.2%* | 40.4% |
| Total Assets | $51.2B | $19.8B |
| Total Liabilities | $63.1B | $49.0B* |
| Unfunded Liability | $11.9B* | $29.2B |
| Participants | 438,000 | 152,000 |
| 1-Year Investment Return | 5.8%* | 4.5% |
| Plan Type | public | public |
| PBGC Risk Level | low | critical |
| Sponsor | State of Illinois | State of Illinois |
Illinois Municipal Retirement Fund (IMRF) has a stronger Pension Health Score of 80/100 (A) compared to State Employees Retirement System of Illinois (SERS) at 40/100 (D). Funding ratios differ by 40.8 percentage points (81.2% vs 40.4%). Illinois Municipal Retirement Fund (IMRF) covers 438,000 participants.
Explore More
Related Comparisons
- Illinois Municipal Retirement Fund (IMRF) vs Illinois Teachers Retirement System (TRS)
- Illinois Municipal Retirement Fund (IMRF) vs State Universities Retirement System of Illinois (SURS)
- Illinois Municipal Retirement Fund (IMRF) vs Chicago Teachers Pension Fund
- Illinois Municipal Retirement Fund (IMRF) vs Central States, Southeast & Southwest Areas Pension Fund
- State Employees Retirement System of Illinois (SERS) vs Illinois Teachers Retirement System (TRS)
- State Employees Retirement System of Illinois (SERS) vs State Universities Retirement System of Illinois (SURS)
- State Employees Retirement System of Illinois (SERS) vs Chicago Teachers Pension Fund
- State Employees Retirement System of Illinois (SERS) vs Central States, Southeast & Southwest Areas Pension Fund