Minnesota Public Employees Retirement Association (PERA) vs State Universities Retirement System of Illinois (SURS)
Side-by-side pension health comparison from DOL and public plan data
Minnesota Public Employees Retirement Association (PERA) and State Universities Retirement System of Illinois (SURS) are meaningfully apart on the LakeQuality pension-health rubric: Minnesota Public Employees Retirement Association (PERA) grades B while State Universities Retirement System of Illinois (SURS) grades D. Funding ratios: 79% vs 44%.
Minnesota Public Employees Retirement Association (PERA) 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
Minnesota Public Employees Retirement Association (PERA) has a stronger Pension Health Score of 71/100 (B) compared to State Universities Retirement System of Illinois (SURS) at 42/100 (D). Funding ratios differ by 35.0 percentage points (79.1% vs 44.1%). Minnesota Public Employees Retirement Association (PERA) covers 378,000 participants.
| Metric | Minnesota Public Employees Retirement Association (PERA) | State Universities Retirement System of Illinois (SURS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 71/100 (B)* | 42/100 (D) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 79.1%* | 44.1% |
| Total Assets | $35.0B | $22.5B |
| Total Liabilities | $44.2B* | $51.0B |
| Unfunded Liability | $9.2B* | $28.5B |
| Participants | 378,000 | 218,000 |
| 1-Year Investment Return | 5.9%* | 5.1% |
| Plan Type | public | public |
| PBGC Risk Level | moderate | critical |
| Sponsor | State of Minnesota | State of Illinois |
Minnesota Public Employees Retirement Association (PERA) has a stronger Pension Health Score of 71/100 (B) compared to State Universities Retirement System of Illinois (SURS) at 42/100 (D). Funding ratios differ by 35.0 percentage points (79.1% vs 44.1%). Minnesota Public Employees Retirement Association (PERA) covers 378,000 participants.