SPRINGFIELD, Ill. (AP) — Stable state funding over the last two years meant key Illinois state employee pension funds didn't have to sell assets to meet payments in 2013, according to a report released Thursday.
The State Retirement Systems, covering pensions for ex-state employees, judges and lawmakers, withdrew $29.7 million in 2013, down 88 percent from $248.7 million a year earlier, Auditor General William Holland wrote in an annual financial audit of the Illinois State Board of Investment.
The nearly $30 million withdrawal in the fiscal year that ended June 30 is small enough for the Board of Investment to absorb with cash flow, said William Atwood, executive director of the Illinois State Board of Investment, which manages the SRS portfolio.
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