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State Universities Retirement System
The State Universities Retirement System, or SURS, is an agency in the U.S. state of Illinois government that administers retirement, disability, death, and survivor benefits to eligible SURS participants and annuitants. Membership in SURS is attained through employment with 61 employing agencies, including public universities, community colleges, and other qualified state agencies. Eligible employees are automatically enrolled in SURS when employment begins. New SURS Members History The Governor and General Assembly founded the University Retirement System in 1941 as an administrator of benefits for employees of the University of Illinois. In the following years, the system grew to include oth ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Champaign, Illinois
Champaign ( ) is a city in Champaign County, Illinois, United States. The population was 88,302 at the 2020 census. It is the tenth-most populous municipality in Illinois and the fourth most populous city in Illinois outside the Chicago metropolitan area. It is included in the Champaign–Urbana metropolitan area. Champaign shares the main campus of the University of Illinois with its twin city of Urbana. Champaign is also home to Parkland College, which serves about 18,000 students during the academic year. Due to the university and a number of well-known technology startup companies, it is often referred to as the hub, or a significant landmark, of the Silicon Prairie. Champaign houses offices for the Fortune 500 companies Abbott, Archer Daniels Midland (ADM), Caterpillar, John Deere, Dow Chemical Company, IBM, and State Farm. Champaign also serves as the headquarters for several companies, the most notable being Jimmy John's. History Champaign was founded in 1855, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Illinois
Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolitan areas include, Peoria metropolitan area, Illinois, Peoria and Rockford metropolitan area, Illinois, Rockford, as well Springfield, Illinois, Springfield, its capital. Of the fifty U.S. states, Illinois has the List of U.S. states and territories by GDP, fifth-largest gross domestic product (GDP), the List of U.S. states and territories by population, sixth-largest population, and the List of U.S. states and territories by area, 25th-largest land area. Illinois has a highly diverse Economy of Illinois, economy, with the global city of Chicago in the northeast, major industrial and agricultural productivity, agricultural hubs in the north and center, and natural resources such as coal, timber, and petroleum in the south. Owing to its centr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Illinois
The Government of Illinois, under Illinois' Constitution, has three branches of government: Executive, Legislative, and Judicial. The State's executive branch is split into several statewide elected offices, with the Governor as chief executive and head of state, and has numerous departments, agencies, boards and commissions. Legislative functions are granted to the General Assembly, a bicameral body consisting of the 118-member House of Representatives and the 59-member Senate. The judiciary is composed of the Supreme Court of Illinois and lower courts. Executive The executive branch is composed of six elected officers and their offices, as well as numerous other departments. Illinois is one of 26 states that elect their governor on the same ticket as their lieutenant governor. The six elected officers are: Departments The government of Illinois has numerous departments, agencies, boards and commissions; however, the code departments, so called because they are established ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Illinois
The University of Illinois Urbana-Champaign (U of I, Illinois, University of Illinois, or UIUC) is a public land-grant research university in Illinois in the twin cities of Champaign and Urbana. It is the flagship institution of the University of Illinois system and was founded in 1867. Enrolling over 56,000 undergraduate and graduate students, the University of Illinois is one of the largest public universities by enrollment in the country. The University of Illinois Urbana-Champaign is a member of the Association of American Universities and is classified among "R1: Doctoral Universities – Very high research activity". In fiscal year 2019, research expenditures at Illinois totaled $652 million. The campus library system possesses the second-largest university library in the United States by holdings after Harvard University. The university also hosts the National Center for Supercomputing Applications and is home to the fastest supercomputer on a university campus. The u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Naperville, Illinois
Naperville ( ) is a city in DuPage County, Illinois, DuPage and Will County, Illinois, Will counties in the U.S. state of Illinois. It is in the Chicago metro area, west of the city. Naperville was founded in 1831 by Joseph Naper. The city was established by the banks of the DuPage river, and was originally known as Naper's Settlement. By 1832, over 100 residents lived in Naper's Settlement. In 1839, after DuPage County was split from Cook County, Naperville became the county seat, which it remained until 1868. Beginning in the 1960s, Naperville experienced a significant population increase as a result of Chicago's urban sprawl. As of the 2020 United States census, 2020 census, its population was 149,540, making it the state's fourth-most populous city. Naperville's largest employer is Edward Hospital with 4,500 employees. Naperville is home to Moser Tower and Millennium Carillon, one of the world's four largest carillons. It is also home to an extensive parks and forest prese ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension
A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "retirement plan" and "superannuation" tend to refer to a pension granted upon retirement of the individual. Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associations or trade unions. Called ''retirement plans' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Security (United States)
In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). The original Social Security Act was enacted in 1935,Social Security Act of 1935 and the current version of the Act, as amended, 2 USC 7 encompasses several social welfare and social insurance programs. The average monthly Social Security benefit for August 2022 was $1,547. The total cost of the Social Security program for the year 2021 was $1.145 trillion or about 5 percent of U.S. GDP. Social Security is funded primarily through payroll taxes called Federal Insurance Contributions Act tax (FICA) or Self Employed Contributions Act Tax (SECA). Wage and salary earnings in covered employment, up to an amount specifically determined by law (see tax rate table below), are subject to the Social Security payroll tax. Wage and salary earnings above this amount are not taxed. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defined Benefit Pension Plan
Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns. Traditionally, many governmental and public entities, as well as a large number of corporations, provide defined benefit plans, sometimes as a means of compensating workers in lieu of increased pay.Lemke and Lins, ''ERISA for Money Managers'', §1:1 (Thomson West, 2013). A defined benefit plan is 'defined' in the sense that the benefit formula is defined and known in advance. Conversely, for a "defined contribution retirement saving plan," the formula for computing the employer's and employee's contributions is defined and known in advance, but the benefit to be paid out is not known in advance. In the United States, specifies a defined benefit plan to be any pension plan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Illinois Municipal Retirement Fund
The Illinois Municipal Retirement Fund (or IMRF) is the second largest and best-funded public pension system in Illinois. Since 1941, has partnered with local units of government to provide retirement, disability and death benefits for public employees. With a funded status of about 98 percent and more than $50 billion in assets, IMRF is well-funded and sustainable. Today, IMRF has more than 440,000 members and serves more than 3,000 different units of government, including towns and villages, libraries and park districts, and counties and school districts (non-teaching personnel). The typical IMRF retiree receives a modest and sustainable benefit, earned after decades of public service. In 2020, 56% of retirees received a benefit of less than $12,000 annually. In 2019, IMRF became the first public pension fund in the nation to receive a Malcolm Baldrige National Quality Award. This Presidential-level honor recognizes exemplary U.S. organizations and businesses. In 2017, IMRF re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Teachers' Retirement System Of The State Of Illinois
The Teachers' Retirement System of the State of Illinois is an American state government agency dealing with pensions and other financial benefits for teachers and other workers in education in Illinois. Purpose The Illinois General Assembly created the Teachers’ Retirement System of the State of Illinois (TRS or the System) in 1939 for the purpose of providing retirement annuities, and disability and survivor benefits for educators employed in public schools outside the city of Chicago. The System's enabling legislation is in the Illinois Pension Code at 40 ILCS 5/16-101 Membership TRS members fall into the following categories: active, inactive, annuitant, and beneficiary. Active members are full-time, part-time, and substitute Illinois public school personnel employed outside the city of Chicago in positions requiring licensure by the Illinois State Board of Education. Persons employed in certain state agencies and statewide or national organizations related to education ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Pension Funds In The United States
In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociological concept of the ''Öffentlichkeit'' or public sphere. The concept of a public has also been defined in political science, psychology, marketing, and advertising. In public relations and communication science, it is one of the more ambiguous concepts in the field. Although it has definitions in the theory of the field that have been formulated from the early 20th century onwards, and suffered more recent years from being blurred, as a result of conflation of the idea of a public with the notions of audience, market segment, community, constituency, and stakeholder. Etymology and definitions The name "public" originates with the Latin '' publicus'' (also '' poplicus''), from ''populus'', to the English word 'populace', and in general denotes some mass population ("the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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