Teachers’ Retirement System of the State of Illinois (A Component Unit ...
Teachers' Retirement System of the State of Illinois
(A Component Unit of the State of Illinois)
Independent Auditor's Report on Allocation of Pension Amounts
For the Year Ended June 30, 2021
Performed as Special Assistant Auditors for the Auditor General, State of Illinois
Teachers' Retirement System of the State of Illinois
(A Component Unit of the State of Illinois)
Report on Allocation of Pension Amounts For the Year Ended June 30, 2021
Table of Contents
System Officials
Pension Schedules Report Summary Independent Auditor's Report Schedule of Employer Allocations Schedule of Pension Amounts by Employer Notes to the Schedules of Employer Allocations and Pension Amounts by Employer
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Teachers' Retirement System
of the State of Illinois (A Component Unit of the State of Illinois)
Report on Allocation of Pension Amounts
For the Year Ended June 30, 2021
System Officials Executive Director (6/26/21 ? Present) Acting Executive Director (8/4/20 ? 6/25/21) Executive Director (7/1/20 ? 8/3/20)
Chief Investment Officer
Chief Financial Officer (7/3/20 ? Present) Chief Financial Officer (7/1/20 ? 7/2/20)
Chief Legal Counsel (11/16/21 ? Present) Chief Legal Counsel (9/12/20 ? 11/15/21) Chief Legal Counsel (7/1/20 ? 9/11/20)
Director of Internal Audit and Risk
Governing Board Members President (8/10/21 ? Present) President (7/1/20 ? 8/6/21)
Vice President (7/15/21 ? Present) Vice President (7/1/20 ? 7/14/21)
Board of Trustee Board of Trustee Board of Trustee Board of Trustee Board of Trustee Board of Trustee Board of Trustee Board of Trustee Board of Trustee Board of Trustee Board of Trustee (7/15/20 ? Present) Board of Trustee (7/27/20 ? 7/19/21) Board of Trustee (3/26/21 ? Present) Board of Trustee (7/15/21 ? Present) Board of Trustee (9/14/21 ? Present)
Office Locations Springfield Office 2815 West Washington Street Springfield, Illinois 62794
Lisle Office 4200 Commerce Court, Suite 100 Lisle, Illinois 60532-3611
Stan Rupnik, CFA Stan Rupnik, CFA Richard W. Ingram
Stan Rupnik, CFA
Deron Bertolo Jana Bergschneider, CPA
Emily Peterson Vacant Marcy Dutton, JD
Stacy Smith, CPA, CIDA
Mr. Matthew Hunt Mr. Devon Bruce
Mr. Andrew Hirshman Mr. Mark Bailey
Dr. Carmen I. Ayala Ms. Norma Bellcoff Ms. Marsha Byas Ms. Maureen Mena Mr. David Miller Mr. Fred Peronto Mr. Larry Pfeiffer Mr. Doug Strand Mr. Matthew Hunt Mr. Andrew Hirshman Ms. Beth Anderson Mr. Matthew Shattock Ms. Maria Jazo-Harris Mr. Joseph Blomquist Mr. Kevin Blackburn
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Teachers' Retirement System of the State of Illinois
(A Component Unit of the State of Illinois)
Report on Allocation of Pension Amounts For the Year Ended June 30, 2021
Summary The audit of the accompanying Schedule of Employer Allocations, Schedule of Pension Amounts by Employer (Schedules) and the related Notes to the Schedules of the Teachers' Retirement System of the State of Illinois (System) was performed by BKD, LLP. Based on their audit, the auditors expressed unmodified opinions on the System's Schedule of Employer Allocations and the specified column totals included in the Schedule of Pension Amounts by Employer.
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BKD
CPAs & Advisors
225 N. Water Street, Suite 400 I Decatur, IL 62523-2326 217.429.2411 I Fax 217.429.6109 I
Independent Auditor's Report
Honorable Frank J. Mautino Auditor General, State of Illinois State of Illinois and The Board of Trustees Teachers' Retirement System of the State of Illinois
Report on the Schedules
As Special Assistant Auditors for the Auditor General, we have audited the accompanying schedule of employer allocations of the Teachers' Retirement System of the State of Illinois (System), a component unit of the State of Illinois, as of and for the years ended June 30, 2021 and 2020, and the related notes. We have also audited the total for all entities of the columns titled beginning net pension liability as of July 1, 2020 and the ending net pension liability, total deferred outflows of resources, total deferred inflows of resources, and total employer pension expense (specified column totals) included in the accompanying schedule of pension amounts by employer of the System as of and for the year ended June 30, 2021 and the related notes.
Management's Responsibility for the Schedules
Management is responsible for the preparation and fair presentation of these schedules in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the schedules that are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express opinions on the schedule of employer allocations and the specified column totals included in the schedule of pension amounts by employer based on our audits. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the schedule of employer allocations and specified column totals included in the schedule of pension amounts by employer are free from material misstatement.
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