AARP in the States | Snapshot: State Employees’ Retirement System of Illinois

The funding of public employee pensions is shared by employees and employers. New SERS

employees contribute 4% or 8% of their pay into the fund, depending on if they are covered by Social Security. Over time, investment income earned by the fund does most of the work. In fact, between 1993 and 2014, taxpayers paid only 30.4% of the cost of benefits.



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