minutes state universities retirement system friday...

MINUTES

Meeting of the Board of Trustees of the State Universities Retirement System Friday, September 16, 2016, 9:00 a.m. State Universities Retirement System

1901 Fox Drive Main Conference Room

Champaign, IL

The following trustees were present: Mr. Tom Cross, Chair; Mr. Aaron Ammons, Mr. Dennis Cullen, Dr. John Engstrom, Dr. Fred Giertz, Mr. Francis Idehen Jr., Mr. Paul R.T. Johnson Jr., Mr. Craig McCrohon (via conference call), Ms. Dorinda Miller; Dr. Steven Rock; and Mr. Antonio Vasquez Others present: Mr. William Mabe, Interim Executive Director; Mr. Andrew Matthews, Chief Operating Officer; Ms. Phyllis Walker, Chief Financial Officer; Ms. Bianca Green, General Counsel; Ms. Angie Lieb, Director of Member Services; Mr. Chris Hansen, Director of Operations; Ms. Brenda Dunn, Director of Human Resources; Ms. Allison Kushner, Compliance and Governance Officer; Ms. Kristen Houch, Legislative Liaison; Ms. Lori Kern, Ms. Diane Bradford and Ms. Whitney Jones, Executive Assistants; and Ms. Mary Pat Burns of Burke, Burns & Pinelli. Board of Trustees roll call attendance was taken. Trustee Ammons, present; Trustee Cross, present; Trustee Cullen, present; Trustee Engstrom, present; Trustee Giertz, present; Trustee Idehen, present; Trustee Johnson, present; Trustee McCrohon, present (via conference call); Trustee Miller, present; Trustee Rock, present; and Trustee Vasquez, present. Per the motion approved at the SURS Board of Trustees meeting on September 15, 2016, trustees may be allowed to participate via conference call for all meetings on September 15, 2016, and September 16, 2016, pursuant to Section 7(c) of the Open Meetings Act.

UPDATE ON EXECUTIVE DIRECTOR SEARCH AND REVIEW OF CANDIDATES Chairman Tom Cross requested that the board move into closed session for a confidential discussion. Trustee Dorinda Miller moved that the Board of Trustees go into closed session under the Open Meetings Act pursuant to §2(c)(1).

Trustee Antonio Vasquez seconded and the motion carried in a roll call vote:

Trustee Ammons aye Trustee Cross aye Trustee Cullen aye Trustee Engstrom aye Trustee Giertz aye Trustee Idehen aye Trustee Johnson aye Trustee McCrohon aye Trustee Miller aye Trustee Rock aye Trustee Vasquez aye CLOSED SESSION

RETURN TO OPEN SESSION

Trustee Paul Johnson made the following motion:

• That the Board Chairman and Fiduciary Counsel be given the authority to negotiate a reasonable and appropriate contract with the finalist within the parameters of the terms as discussed in closed session.

Trustee Miller seconded and a roll call vote was requested.

Trustee Ammons nay Trustee Cross aye Trustee Cullen aye Trustee Engstrom aye Trustee Giertz aye Trustee Idehen nay Trustee Johnson aye Trustee McCrohon aye Trustee Miller aye Trustee Rock aye Trustee Vasquez aye

The motion carried with a majority of trustees present voting in favor. Trustee Johnson made the following motion:

• That counsel be given the authority to extend Mr. William Mabe’s contract as needed in order to allow for a seamless transition to the new executive director.

Trustee Miller seconded and the motion carried with all trustees present voting in favor.

APPROVAL OF MINUTES

Chairman Cross presented the minutes from the board meeting of June 10, 2016. Trustee Steven Rock made the following motions:

• That the minutes from the June 10, 2016 Board of Trustees meeting be approved as presented.

Trustee Johnson seconded and the motion carried with all trustees present voting in favor.

APPROVAL OF CLOSED SESSION MINUTES

Chairman Cross presented the closed minutes from the board meeting of December 11, 2015. Trustee Johnson made the following motion:

• That the closed session minutes from the December 11, 2015 Board of Trustees meeting be approved as presented and remain closed.

Trustee Aaron Ammons seconded and the motion carried with all trustees present voting in favor.

CONSIDERATION OF VERBATIM RECORDS

The Board entered into a discussion with General Counsel and Fiduciary Counsel regarding the status of open and closed session verbatim recordings maintained at SURS. It was noted that the law in Illinois requires closed session verbatim recordings to be kept for 18 months following the recorded session regardless of whether the corresponding minutes are open or remain closed. The law in Illinois does not require open sessions to be recorded and even if such sessions are recorded, there is no legal requirement to maintain said verbatim recordings in any capacity or for any specified length of time. Discussion continued.

Trustee Rock made the following motions:

• That the verbatim recordings of all open committee meetings be discarded after minutes

of said meetings have been approved.

• That the verbatim recordings of all closed committee and board meetings more than 18 months old be discarded in accordance with 5 ILCS 120/2.06(c)(1)(2).

Trustee Miller seconded and the motions carried with all trustees present voting in favor.

CHAIRPERSON’S REPORT

Chairman Cross did not have a Chairperson Report.

EXECUTIVE DIRECTOR’S REPORT

Mr. William Mabe did not have an Executive Director’s report at this time.

REVIEW OF COMMITTEE ACTION

Administration Committee On behalf of the Administration Committee, Chairman Cross presented the committee actions. Trustee Ammons moved:

• That a 1.25 percent total salary budget increase for FY 2017 be approved. Any salary increase would be retroactive to the first pay period in July 2016 for SURS employees actively employed as of 9/1/16.

Trustee Rock seconded and a roll call vote was requested:

Trustee Ammons aye Trustee Cross nay Trustee Cullen aye Trustee Engstrom nay Trustee Idehen aye Trustee Johnson nay Trustee McCrohon aye Trustee Miller aye Trustee Rock aye Trustee Vasquez nay

The motion carried with a majority of trustees present voting in favor. Trustee Dennis Cullen moved:

• That $18,000 be approved for funding of the Star Award Program and Employee of the Year.

• That the Fiscal Year 2017 Administrative Expense Budget and Investment Operations Budget be approved as presented including the increase in the compensation adjustment.

• That the SURS inclusion policy be received as presented and that the SURS inclusion goal for purchases from businesses owned by minorities, women and persons with a disability remain at 25 percent for FY 2017

Trustee Johnson seconded and the motion carried with all trustees present voting in favor.

Investment Committee On behalf of the Investment Committte, Chairman Cross presented the committee actions. Trustee Johnson moved:

• That the SURS Fiscal Year 2017 Investment Plan be accepted as presented. • That the following motion from the September 2015 investment committee and board

meeting that directed “a search be conducted to identify qualified providers of hedged strategies consistent with the criteria expressed in the 2016 Investment Plan” be rescinded.

Trustee Antonio Vasquez seconded and the motion carried with all trustees present voting in favor. Corporate Governance On behalf of the Corporate Governance Committte, Chairman Cross presented the committee actions. Trustee Ammons moved:

• That the proxy voting services provider Glass Lewis be retained contingent upon successful contract negotiations.

Trustee Cullen seconded and the motion carried with a majority of trustees present voting in favor, except Trustee J. Fred Giertz, who opposed. Audit & Risk On behalf of the Audit & Risk Governance Committte, Chairman Cross presented the committee actions. Trustee John Engstrom moved:

• That the Internal Audit Plan for FY 17/18 be approved as presented. Trustee Ammons seconded and the motion carried with a majority of the trustees present voting in favor. Legal & Legislative On behalf of the Legal & Legislative Committte, Chairman Cross presented the committee actions. Trustee Johnson moved:

• That the 2017 Legislative Agenda be approved as presented. Trustee Miller seconded and the motion carried with a majority of the trustees present voting in favor. Board Governance On behalf of the Board Governance Committte, Chairman Cross presented the committee actions. Trustee Johnson moved:

• That the Board Governance Manual for FY 16/17 be accepted as presented. • That the meeting dates proposed for 2017-2018 be approved as presented.

Trustee Dennis Cullen seconded and the motion carried with a majority of the trustees present voting in favor.

BOARD TRAVEL Mr. Mabe presented the board with travel and conference opportunities for the board’s review and approval. He reported that pursuant to Public Act 96-0006, the trustees are required to have eight hours of annual training. A majority of the board must approve all board travel in order to qualify for reimbursement of expenses in accordance with the board’s Travel Approval and Expense Reimbursement Policy. Staff develops a list of upcoming training opportunities and this list is then presented to the trustees with their regular meeting materials. Trustee Ammons requested that the list be amended to include the upcoming National Association of Securities Professional (NASP) being held in New York in October 2016. Trustee Francis Idehen moved:

• That the Board of Trustees travel to attend conferences or trainings listed on the amended September 2016 list of Upcoming Training Opportunities is approved and that all resulting allowable expenses consistent with the SURS Travel Policy are reimbursed.

• That the Board of Trustees travel to NEPC client and educational conferences be approved and that all resulting allowable expenses consistent with SURS Travel Policy be reimbursed.

• That the Board of Trustees travel to attend board and committee meetings, Claims

Panel hearings, meetings with SURS staff, and other SURS-related business or functions be approved for Fiscal Year 2017 and that all resulting allowable expenses be reimbursed.

Trustee Johnson seconded and the motions carried with all trustees present voting in favor.

A copy of the staff memorandum titled “Board Training Requirements and Travel Approval” which includes the list of upcoming training opportunities as of September 2016 is incorporated as a part of these minutes as Exhibit 1 and Exhibit 2.

FIDUCIARY LIABILTY INSURANCE

Ms. Bianca Green and Mr. Andrew Matthews provided a brief update regarding the recent Fiduciary Liability Insurance RFP approved by the board in March 2016. Ms. Green remarked that for the last three years, SURS has utilized the services of Mesirow Financial Insurance Services for fiduciary coverage and Tave Risk Management for all other insurance needs. Ms. Green remarked that Tave Risk Management and Mesirow Financial Insurance Services were the only respondents for the recent RFP. She also noted that both providers highly recommended that SURS consider obtaining cyber insurance and staff concur with this recommendation. Discussion regarding the RFP responses and the recommendations of the providers ensued. Ms. Burns noted that the current coverage is due to expire September 30, 2016. Trustee Johnson made the following motion:

• That Tave Risk Management be approved as a separate policy for cyber security insurance brokerage services in the amount of $1 million based on the recommendation of the insurance broker.

Trustee Vasquez seconded and the motion carried by all trustees present voting in favor. Trustee Johnson made the following motion:

• That the fiduciary insurance policy with Mesirow Financial Insurance Services be renewed at the existing coverage levels based on the recommendation of the insurance broker.

Trustee Vasquez seconded and the motion carried by all trustees present voting in favor. A copy of the staff memorandum titled “Fiduciary Insurance Brokerage” and “Fiduciary and Cyber Insurance Brokerage RFP Evaluation” are incorporated as a part of these minutes as Exhibit 3 and Exhibit 4.

GENERAL COUNSEL’S LITIGATION REPORT Ms. Green presented the September 2016 Litigation Report updating the board on pending litigation matters.

INFORMATIONAL ITEMS NOT REQUIRING COMMITTEE ACTION

1. Exhibit 5 - General Counsel’s FOIA Report 2. Exhibit 6 - Comparative Financial Reports and Budget Variance 3. Exhibit 7 - Member Services Division Report 4. Exhibit 8 - Self-Managed Plan Update for the Quarter Ending June 30, 2016

PUBLIC COMMENT Since there was no further business before the board, Trustee Johnson moved that the meeting be adjourned. The motion was seconded by Trustee Ammons and carried with all trustees present voting in favor.

Respectfully submitted,

Mr. William Mabe

Secretary, Board of Trustees

WEB:wj

MEMORANDUM TO: Board of Trustees FROM: Mr. William E. Mabe Interim Executive Director RE: Board Training Requirements and Travel Approval DATE: September 1, 2016 In order to assist Trustees in obtaining the 8 hours of annual training required by Public Act 96-0006, staff has developed the attached list of upcoming training opportunities. This list will be updated and provided to the Trustees with the regular meeting materials. Public Act 96-0006 also requires that all Board travel be approved by a majority of Trustees in order to qualify for reimbursement of expenses in accordance with the Board’s Travel Approval and Expense Reimbursement Policy. Each Trustee is eligible to be reimbursed for two out-of-state trips, each fiscal year, for educational purposes. SURS is a voting member of the Council of Institutional Investors (“CII”). In March of 2013, the SURS travel policy was amended, to provide that attendance at the semi-annual meetings of CII not be included in the two-per-year limit for board member attendance at educational conferences, since such conferences are not educational meetings, rather, are working meetings of an organization of which SURS is a member. Staff Recommends that the following motions be approved at this time:

• That the Board of Trustees travel to attend conferences or trainings listed on the September 2016 list of Upcoming Training Opportunities be approved and that all resulting allowable expenses consistent with SURS travel policy be reimbursed.

• That the Board of Trustees travel to NEPC client and educational conferences be approved and that all resulting allowable expenses consistent with SURS travel policy be reimbursed.

• That the Board of Trustees travel to attend Board and Committee meetings, Claims Panel hearings, meetings with SURS staff, and other SURS-related business or functions be approved for Fiscal Year 2017 and that all resulting allowable expenses be reimbursed.

AMENDED State Universities Retirement System

Schedule of Upcoming Training Opportunities

As of September 2016

SURS Board/Committee Meetings for 2016-2017 SURS Investment Committee Meeting October 20, 2016 SURS Board and Committee Meetings December 8-9, 2016 SURS Investment Committee Meeting February 2-3, 2017 SURS Board and Committee Meetings March 9-10, 2017 SURS Investment Committee Meeting April 20, 2017 SURS Board and Committee Meetings June 8-9, 2017 SURS Board and Committee Meetings September 14-15, 2017 SURS Investment Committee Meeting October 19, 2017 SURS Board and Committee Meetings December 7-8, 2017

Council of Institutional Investors

Title: 2016 Fall Conference Subject Matter: Corporate Governance Issues Sponsor: Council of Institutional Investors Date: September 28-30, 2016 Location: Chicago, IL Registration Fee: Complimentary for members

Training Opportunities

Title: 10th Annual Small and Emerging Managers Conference Subject Matter: Various Investment Topics Sponsor: GCM Grosevnor Date: September 22-23, 2016 Location: Chicago, IL Registration Fee: TBD Title: National Association of Securities Professionals Subject Matter: Various Topics Sponsor: NASP Date: October 17 – 18, 2016 Location: New York, NY Registration Fee: TBD Title: Roundtable for Consultants and Institutional Investors Subject Matter: Various Investment Topics Sponsor: Institutional Investor Date: October 19-21, 2016 Location: Chicago, IL Registration Fee: TBD Title: 2nd Annual Midwest Credit & Hedge Fund Investor Forum

Subject Matter: Various Investment Topics Sponsor: Markets Group Date: November 17, 2016 Location: Chicago, IL Registration Fee: TBD

To: Board of Trustees From: Andrew S. Matthews Date: September 15, 2016 Re: Fiduciary Insurance Brokerage

Background As discussed at the March 2016 Board meeting, SURS staff issued a Request for Proposals for insurance brokerage services. For the last three years, SURS has utilized the services of Mesirow Financial Insurance Services for fiduciary insurance and Tave Risk Management for all other insurance needs. Staff and the Board have been pleased with the services of both providers in improving coverage terms and reducing costs. In an effort to ensure that the best services and lowest costs are provided, staff recommended—and the Board of Trustees approved—an RFP process for insurance brokerage services. Tave Risk Management and Mesirow Financial Insurance Services were the only respondents for the recent RFP. Based upon prior good service, low cost, and efforts to increase procurement from businesses which are MWDB certified, Tave was retained to provide all required insurance for SURS with the exception of fiduciary and cyber security coverage. Due to the specific impact of cyber security and fiduciary insurance on Board members as fiduciaries of the fund, staff is presenting both proposals to the Board for its consideration in the selection process.

Items for Consideration A general summary of proposed policies, fees, and commissions has been provided for reference during discussions. In addition to the details included in this summary, the entire proposals from both Tave Risk Management and Mesirow Financial Insurance Services are included in Board materials. Some of the items to consider while reviewing the proposals include:

• Carriers the broker has access to and reputation• Other similar clients• Qualifications of the broker and services provided• Estimated proposal cost

Tave Risk Management Mesirow Financial Insurance Services

Carriers the broker has access to for quotes and AM Best Ratings:

**Both brokers have access to a wide variety of underwriters. The following is representative of the likely fiduciary/cyber carriers that have been or will be approached per RFP responses and past

• Ullico/Markel (A)• Euclid/Hudson (A)• AIG (A)• Chubb (A++)• Great American (A+)• XL Catlin (A)• Travelers (A+)• Navigators (A)• Beazley (A)

• Ace Insurance (A+)• Arch Insurance (A+)• Axis Insurance (A+)• AIG (A)• Chubb (A++)• CNA (A)• Euclid/Hudson(A)• Hartford Insurance (A)• Houston Casualty (A)• RLI Insurance (A)• Travelers (A+)• Ullico/Markel (A)

Exhibit 3

discussions. • Beazley (A) Other similar clients: • Teachers Retirement System

(TRS) of Illinois • Illinois Municipal Retirement

System

• Chicago Transit Authority Employees

• Policemen’s Annuity and Benefit Fund of Chicago

• Firemen’s Annuity and Benefit Fund of Chicago

• Laborers’ Annuity and Benefit Fund of Chicago

• Municipal Employees’ Annuity and Benefit Fund of Chicago

• County Employees & Officers Annuity & Benefit Fund of Cook County

• Board of Education of the City of Chicago Retirement Plan

Qualifications of the broker and services provided:

• MWDB Certified and Illinois headquartered

• Privately-owned small business with dedication to high-quality client service

• Experienced staff assigned to SURS including Clara Gable with over 35 years of insurance experience including professional liability coverage

• Recommended by existing clients including public pension funds

• Highly focused staff offers a skilled and personal service to clients

• Additional services highlighted include: certificate management software, contract review, systems and administrative support

• Full service broker providing program structure recommendations, risk management services, strategic account design, policy marketing, and client servicing

• Illinois headquartered operations

• Dedicated practice group for multi-employer, Taft-Hartley, and public pension fund clients

• Experienced staff assigned to SURS with over 20 years of placing fiduciary insurance

• Recommended by existing clients including public pension funds

• High premium volume under multiple insurance lines

• Continues to operate as Mesirow Insurance after recent sale to Alliant

• Over 200 public pension and Taft-Hartley clients nationally

• Helpful guidance on coverage provisions, market selection, and limits analysis

• Full service broker providing program review, risk analysis, renewal marketing, procurement, Board presentation and recommendation, education, and consulting services

Estimated proposal cost: $241,612 $295,838

Exhibit 11a

Staff has reviewed the extensive proposals for both brokers, and staff believes that both proposals meet the requirements requested in the RFP. Tave Risk Management and Mesirow Financial Insurance Services are both recommended by other public pension funds and higher education clients, and staff believes that either broker would meet the standards required to provide insurance brokerage services for SURS.

Recommendation • That _________________ be approved as the provider of fiduciary and cyber

security insurance brokerage services.

Exhibit 11a

TAVE Policy Terms Carrier Cost MESIROW Policy Terms Carrier CostCURRENT Policy

Terms Carrier CostFiduciary Liability and Excess Fiduciary Liability

$15,000,000 Limit

$0 Deductible

Multiple Limits and Deductibles can be discussed; alternate

quotes include $50,000 and

$100,000 deductibles for decreased premium costs

Various (pro forma renewal with

various carriers to be considered, application not allowed due to existing broker

relationship)

$208,583 $15,000,000 Limit

$0 Deductible

Multiple Limits and Deductibles can be discussed;

alternate quotes include $50,000 and $100,000

deductibles for decreased premium costs

Ullico and Euclid (others

were contacted for

alternative options)

$262,809 $15,000,000 Limit

$0 Deductible

Ullico and Euclid

$258,111

Cyber & Network Security

$1,000,000 Limit

$2,000,000 Limit

$3,000,000 Limit

*Higher limits are likely to be necessary upon application and

determination of liability.

Beazley $33,029 $1,000,000 Limit

$2,000,000 Limit

$3,000,000 Limit

*Higher limits are likely to be necessary upon application

and determination of liability.

Beazley $33,029 N/A N/A N/A

Total Premiums $241,612 $295,838 $258,111Total Fees $15,000 for fiduciary

components; 15% for each other

endorsement NTE $5,000 per policy

$19,954 13.5% of Premiums $39,938 15% of Premiums $38,717

Exhibit 11b

September 2016

Freedom of Information Act Requests Received Since Last Report: Date

Received Name Affiliation

(if any) Information Requested Date

Responded

Commercial Request?

5/23/16 F16-92

Matthew Geiger

None listed Requested CAFR’s for 1985 through 2005 and Actuarial Valuation Reports for 1985 through 2009.

5/24/16 No

6/3/16 F16-93

Haley Parker Preqin Requested distribution data Distribution as of December 31, 2015. This list should include all such partnerships, i.e. private equity, venture capital, distressed debt, mezzanine, fund of funds, real estate, natural resources and private debt investments.

6/3/16 Yes

6/3/16 F16-94

Tracy Farley Quarles and Brady LLP

Requested information on a SURS member. 6/16/16 No

6/20/16 F16-95

Matthew Geiger

None listed Requested name, age, gender, tier, start date, retirement date, employer, years of service, final pensionable salary, last annual earnings before retirement, starting monthly pension, current monthly pension, total paid to annuitant to date, total employee contributions, for retired members of SURS. Also requested annual salary, annual employee contributions and service credit for active members of SURS.

7/5/16 No

6/27/16 F16-96

Brian Schaeflein

Oak Lawn Leaf Requested a list of all residents in Oak Lawn, IL currently receiving pension benefits from SURS

6/28/16 No

6/28/16 F16-97

Tristan Farough

Illinois Policy Institute

Self-Managed Plan enrolment counts for 2015 through present time 7/6/16 No

7/12/16 F17-01

Craig Lesner Illinois Policy Institute

Requested by employer, a listing of total employee earnings and employer contribution for fiscal year 2015.

7/18/16 No

7/14/16 F17-02

Brian Schaeflein

Oak Lawn Leaf Requested a list of all residents of Oak Lawn, IL who are active participants in SURS. 7/15/16 No

7/18/16 F17-03

Mike Carson Aspida Strategies Requested documents of a SURS member. 7/21/16 No

7/19/16 F17-04

Tristan Farough


Requested enrolment in SURS defined benefit and contribution plans. 7/26/16 No

7/19/16 F17-05

Craig Lesner Illinois Policy Institute

Requested name, pensionable pay and employer name for members of SURS for fiscal year 2015.

7/26/16 No

Exhibit 12a

8/2/16 F17-06

Brendan Bakala


Requested a listing of members of SURS who are using a self-managed retirement plan, including the names, ages, gender, and the employment start date of said members; documents showing the fiscal year 2015 and fiscal year 2016 salaries for members using a self-managed retirement plan; documents showing years creditable service in total and broken down into regular and reciprocal; documents showing the annual employee contribution for fiscal year 2015, fiscal year 2016 and in total to SMP account; documents showing the annual employer contribution for fiscal year 2015, fiscal year 2016 and in total to SMP account; documents showing the date/year the members joined SMP program and total years the members spent enrolled in SMP program. Requested the following information on retired and inactive members: names, current ages, ages at retirement, gender, employment start date, last payroll date/date of retirement, and the last year's salary, distribution types (AN,LN, etc) Please include short definitions of each type, years creditable service in total and broken down into regular and reciprocal, total years enrolled in SMP program, total years enrolled in SMP program, annual employee contribution in total to SMP account, annual employer contribution in total to SMP account, and last statement balance and date.

8/12/16 No

8/3/16 F17-07

Todd Green Talcott Franklin Requested records that show holdings of SURS including the quantity and classes of certificates acquired and the dates of acquisition in any residential mortgage backed security trusts for Morgan Stanley IXIS Real Estate Capital Trust 2006-1, Morgan Stanley IXIS Real Estate Capital Trust 2006-2, Morgan Stanley ABS Capital 1 Inc IXIS Real Estate Capital Trust 2006-HE1, 2, 3, Morgan Stanley ABS Capital 1 Inc IXIS Real Estate Capital Trust 2007 – HE1 and NATIXIS Real Estate Capital Trust 2007-HE2.

8/19/16 Yes

8/3/16 F17-08

Ted Ballantine Policy Data Institute

Requested the compensation received by all pension system investment staff in the fiscal year ended 2015, broken out by all applicable compensation types – including but not limited to GROSS and NET annual salary, bonuses, deferred compensation, and matched profit sharing, and any other compensation -- along with first and last names and job titles and the compensation received by the 10 highest-paid System employees who are NOT investment staff in the fiscal year ended 2015, broken out by all applicable compensation types – including but not limited to GROSS and NET annual salary, bonuses, deferred compensation, and matched profit sharing, and any other compensation -- along with first and last names and job titles.

8/10/16 No

8/12/16 F17-09

Ellen He Yazhou

Warwick Business School

Requested proxy voting records of State Universities Retirement System of Illinois for the period of January 1st 1980 to June 30th 2016 (or the maximum period available until present), including: name of issuer, issuer identifier e.g. CUSIP and ticker, date of shareholder meeting, type of shareholder meeting (Annual, Special etc.), proposal No., proposal, proposer (Management / Shareholder), vote cast by State Universities Retirement System of Illinois, entity responsible for vote decision (Internal/external asset manager (if external, please name) / proxy voting advisor (ISS, Glass Lewis, Marco Consulting, etc.) in addition, please indicate whether State Universities Retirement System of Illinois has its own proxy voting policy or whether you use that of an external provider (Please Name).

8/19/16 No

8/12/16 F17-10

Daniel Takash Reason Foundation

Requested SURS valuation reports from 2001 through 2005, and comprehensive annual financial reports for 2001 through 2003.

8/19/16 No

8/2/16 F17-11

Rosanna Weaver

As You Sow Requested a copy of proxy votes cast by SURS between June 30, 2015 and June 30, 2016.

8/23/16 No

Exhibit 12a

8/22/16 F17-12

Haley Parker Preqin Requested a list of all hedge funds and fund of hedge funds in which SURS is an investor; and for each hedge fund and fund of hedge funds, a copy of any records that would show some or all of the month by month market value of SURS holdings in each fund since the initial investment in hedge funds to June-30-2016,the month by month amount invested in each fund since the initial investment in hedge funds to June-30-2016, the month by month net returns (net of fees) earned on its investment in each fund since the initial investment in hedge funds to June-30-2016.

8/26/16 Yes

Exhibit 12a

MONTHLY FINANCIAL STATEMENTS AND

SUMMARY OF PERFORMANCE MEASUREMENTS

Reporting Packet Includes: Page #Statement of Net Assets 1Summary of Investment Information 1Statement of Operations - YTD 2Summary of Employer Funding 2Statement of Cash Flows 2Administrative Expenses 3Performance Measures for: Member Services 4 Outreach 4 Human Resources 4 Accounting 5 Information Technology - Operations 5 Support Services 5 Information Technology - Application Development 5 Risk Management 5 Legal and Legislative Summary 6-8

STATE UNIVERSITIES RETIREMENT SYSTEM

as of June 30, 2016

Preliminary

Exhibit 12b

STATE UNIVERSITIES RETIREMENT SYSTEMSTATEMENT OF NET ASSETSas of June 30, 2016

Actual Prior Year Increase/ (Decrease)$ %

AssetsCash and investments 17,140,647,939$ 17,428,065,453$ (287,417,514)$ -1.65%

Accounts receivable & other assets 674,500,527 617,363,891 57,136,636 9.25%

Accrued investment income 42,366,778 42,333,100 33,678 0.08%

Fixed Assets, net of accum deprec 6,249,153 6,169,023 80,130 1.30%

Total Assets 17,863,764,397 18,093,931,467 (230,167,070) -1.27%

Liabilities & Designated BalancesAccounts and benefits payable 882,272,055 630,963,611 251,308,444 39.83%

Employee contributions 6,145,836,121 6,196,585,027 (50,748,906) -0.82%

Benefits in force and future benefit payments 10,835,656,221 11,266,382,829 (430,726,608) -3.82%

Total Liabilities & Designated Balances 17,863,764,397 18,093,931,467 (230,167,070) -1.27%

Net Assets 16,981,492,342 17,462,967,856 (481,475,514) -2.76%

Accounts and benefits payable includes the $201,914 remainder for the insurance premium refunds (Kanerva v Weems)

STATE UNIVERSITIES RETIREMENT SYSTEMSUMMARY OF INVESTMENT INFORMATIONYear to dateJuly 1, 2015 - June 30, 2016

Actual Prior Year Variance Inc/(Dec)Investment Assets: Cash 670,477,625$ 749,161,649$ (78,684,024) -10.5% Stocks 8,953,569,340 11,243,565,768 (2,289,996,428) -20.4% Bonds 4,721,834,968 4,562,385,463 159,449,505 3.5% Real estate 980,483,705 872,952,573 107,531,132 12.3% Alternatives 1,814,282,301 - 1,814,282,301 N/A

Total Cash and Investment Assets 17,140,647,939$ 17,428,065,453$ (2,101,699,816)$ -4.9%

Variance Inc/(Dec)Investment Income: Interest on bonds and notes 113,797,131$ 108,651,623$ 5,145,508 4.7% Dividends from stocks and real estate 219,145,622 218,278,974 866,648 0.4% Securities Lending 4,215,195 4,690,554 (475,359) -10.1% Investment Expense (59,333,245) (56,127,346) (3,205,899) 5.7%Net gain (loss) on security disposal (286,701,937) 227,706,152 (514,408,089) -225.9%

Total Investment Income, net of expense (8,877,234)$ 503,199,957$ (512,077,191)$ -101.8%

SURS

Fiscal Year 2016 to date 0.22%

Prior year returns basedon 6/30/2015 data.

1 Year 2.9%

3 Years 11.0%

5 Years 11.2%

10 Years 7.1%

Investment Returns:

26%

16%

1%

9% 7%

11%

16%

4%

3% 6%

1%

Asset Allocation US Equities Non-US Equities Opportunity Fund Global Equities Private Equities Real Estate

Fixed Income TIPS Emerging Debt Hedged Stategies Commodities

Exhibit 12b

STATE UNIVERSITIES RETIREMENT SYSTEMSTATEMENT OF OPERATIONSYear to date

July 1, 2015 - June 30, 2016Actual Prior Year Increase/ (Decrease)

$ %

Employee Contributions 280,977,130$ 270,421,562$ 10,555,568$ 3.9%

State Appropriations 1,544,729,756 1,488,591,489 56,138,267 3.8%Fed/Trust/Other contributions 39,348,479 39,933,909 (585,430) -1.5%

Operating Revenue 1,865,055,365 1,798,946,960 66,108,405 3.7%

Benefit Expenses- Traditional Retirement annuities 1,886,497,307 1,810,762,258 75,735,049 4.2% Survivor annuities 140,325,864 132,032,820 8,293,044 6.3% Death Benefits 12,906,517 12,649,458 257,059 2.0%

Benefit Expenses- Portable Retirement annuities 159,204,917 138,075,719 21,129,198 15.3% Retirement LS distributions 28,182,950 27,093,473 1,089,477 4.0% Survivor annuities 2,123,681 1,770,773 352,908 19.9% Death Benefits 6,982,592 5,730,184 1,252,408 21.9%

Disability benefits 16,420,853 16,032,922 387,931 2.4%

Traditional plan refunds 35,534,989 38,051,314 (2,516,325) -6.6%Portable plan refunds 32,649,249 31,494,520 1,154,729 3.7%SMP balance transfers 2,093,354 2,739,479 (646,125) -23.6%

Total Benefit Expenses 2,322,922,273 2,216,432,920 106,489,353 4.8%

Administrative Expenses 14,731,372 14,069,273 662,099 4.7%

Operating Expenses 2,337,653,645 2,230,502,193 107,151,452 4.8%

Net Operating Gain / (Loss) (472,598,280) (431,555,233) (41,043,047) 9.5%

Net Investment Income / (Loss) (8,877,234) 503,199,957 (512,077,191) -101.8%

Increase/ (Decrease) in Net Assets (481,475,514) 71,644,724 (553,120,238) -772.0%

Net Assets, Beginning of Period 17,462,967,856 17,391,323,132 71,644,724 0.4%

Net Assets, End of Period 16,981,492,342$ 17,462,967,856$ (481,475,514) -2.8%

Benefit Exp as a % of total Operating Exp 99.4% 99.4%Admin Exp as a % of total Operating Exp 0.6% 0.6%

SUMMARY OF EMPLOYER FUNDING STATEMENT OF CASH FLOW- year to dateActual Prior Year

Combined Plans:FY 2016 Actuarial Determined Contribution 1.853 billion (472,598,280)$ (431,555,233)$ FY 2016 Statutory Required Contribution 1.648 billionFY 2016 Employee Contribution Estimate 297 million (Inc) / Dec in Receivables (45,886,210) (77,791,380) Inc / (Dec) in Payables (1,267,445) (761,601) Defined Benefit Plan: Fiscal year to datePayments received- State Appropriations 1.3115 billion *Net Operating Gain / (Loss), cash basis (519,751,935)$ (510,108,214)$ as a % of SRC- State portion 81.9%

*Represents amount of investments liquidated to pay expendituresPayments received- Trust/fed/grants/other 39.3 million

2015 2014 2013 2012 2011Actuarial Required Contribution 1.541 billion 1.561 billion 1.47 billion 1.28 billion 1.23 billionStatutory Required Contribution 1.588 billion 1.552 billion 1.443 billion 1.0195 billion 776.0 million

$ Variance (47.0) million 9.0 million 2.7 million 260.5 million 454.0 million% Variance (2.9 %) 0.6% 4.7% 20.4% 36.9%

2010 2009 2008 2007 2006Actuarial Required Contribution 1.0 billion 874.0 million 707.5 million 705.9 million 626.0 millionStatutory Required Contribution 744.5 million 491.2 million 380.3 million 252.1 million 166.6 million

$ Variance 255.5 million 382.8 million 327.2 million 453.8 million 495.4 million% Variance 25.5% 43.8% 46.2% 64.3% 74.8%

Net Operating Gain/(Loss), accrued

Exhibit 12b

STATE UNIVERSITIES RETIREMENT SYSTEMSUMMARY OF EXPENSES

July 1, 2015 - June 30, 2016Y-T-D Y-T-D Prior Under (Over) Budget Under (Over) Prior Year

Administrative Expenses Budget Actual Year $ % $ %ITEM:Personal Services:Salaries & Wages 8,105,949$ 7,844,176$ 7,510,708$ 261,773$ 3.2% (333,468)$ -4.4%Employee's Group Health Insurance 2,424,575 2,494,500 2,199,048 (69,925) -2.9% (295,452) -13.4%Retirement Contributions 983,589 964,392 863,175 19,197 2.0% (101,217) -11.7%Medicare 110,220 101,273 99,940 8,947 8.1% (1,333) -1.3% Total Personal Services 11,624,333 11,404,341 10,672,871 219,992 1.9% (731,470) -6.9%

Contractual Services:Freight, Express & Drayage 13,600 4,693 13,207 8,907 65.5% 8,514 64.5%Repairs & Maintenance, Equipment 8,300 6,678 10,226 1,622 19.5% 3,548 34.7%Repairs & Maintenance EDP 84,547 67,369 72,411 17,178 20.3% 5,042 7.0%Statistical & Tabulation-Applications 179,709 157,593 138,321 22,116 12.3% (19,272) -13.9%Statistical & Tabulation-Operations 616,196 486,453 461,759 129,743 21.1% (24,694) -5.3%Medical Consultant Fees 10,000 3,046 7,055 6,954 69.5% 4,009 56.8%Auditing & Management Services 88,694 54,688 23,632 34,006 38.3% (31,056) -131.4%Legal Counsel 184,000 156,854 261,198 27,146 14.8% 104,344 39.9%Actuarial Consultant 284,000 257,243 228,180 26,757 9.4% (29,063) -12.7%Professional & Artistic Services, Recruit 277,120 312,587 339,818 (35,467) -12.8% 27,231 8.0%Building and Ground Maintenance 197,535 143,916 119,342 53,619 27.1% (24,574) -20.6%Utilities 103,700 91,698 92,378 12,002 11.6% 680 0.7%Postage 313,024 283,046 376,696 29,978 9.6% 93,650 24.9%Surety, Bond & Insurance 279,500 251,435 261,744 28,065 10.0% 10,309 3.9%Subscriptions/Information Services 29,254 28,148 25,997 1,106 3.8% (2,151) -8.3%Board Travel 25,000 25,225 21,042 (225) -0.9% (4,183) -19.9%Board Meeting Expenses 11,530 8,695 9,666 2,835 24.6% 971 10.0%Conference Fees & Expenses 36,803 25,958 17,494 10,845 29.5% (8,464) -48.4%Association Dues 26,056 23,199 25,336 2,857 11.0% 2,137 8.4%Employee Training, Tuition 38,670 24,670 35,936 14,000 36.2% 11,266 31.4%Copying, Photographic & Printing 29,020 19,142 26,136 9,878 34.0% 6,994 26.8%Travel 94,297 111,927 71,160 (17,630) -18.7% (40,767) -57.3%Printing Supplies 48,900 42,990 35,102 5,910 12.1% (7,888) -22.5%Office & Library Supplies 59,035 47,462 53,038 11,573 19.6% 5,576 10.5%EDP Supplies & Equipment 104,100 71,457 86,220 32,643 31.4% 14,763 17.1%Office Rental 30,036 19,890 28,796 10,146 33.8% 8,906 30.9%Rental, Phone Services/Equipment 111,460 106,202 100,914 5,258 4.7% (5,288) -5.2% Total Contractual Services 3,284,086 2,832,264 2,942,802 451,822 13.8% 110,536 3.8%Depreciation 494,767 494,767 453,600 - 0.0% (41,167) -9.1% TOTAL 15,403,186$ 14,731,372$ 14,069,273$ 671,814$ 4.4% (662,099)$ -4.7%

Capital Expenditures Budget:Office furniture & IS equipment 485,000$ 528,592$ 197,006$ (43,592)$ -9.0% (331,586)$ -168.3%Building Improvements 417,000$ 24,331$ 282,549$ 392,669 94.2% 258,218 91.4% TOTAL 902,000$ 552,923$ 479,555$ 349,077$ 38.7% (73,369)$ -15.3%

Y-T-D PriorIncrease

(Decrease)Investment Expenses Actual Year $

Investment Management Fees: U.S. Equities 7,614,254 9,331,182$ (1,716,928) International Equities 11,085,370 10,152,214 933,156 Global Equities 5,924,122 6,561,679 (637,557) Private Equities 9,532,623 10,435,222 (902,599) Fixed Income 9,793,592 7,248,871 2,544,721 Real Estate 9,896,855 8,638,931 1,257,924 Hedge Funds - - - Commodities 203,542 - 203,542 Opportunity Fund 1,400,761 - 1,400,761 Securities Lending Expense 379,368 422,320 (42,952) Consultant Fees 566,500 443,125 123,375 Custody & Performance Reporting 1,251,500 1,251,500 - Database and Resources Expense 169,433 182,407 (12,974) Personnel Expense 1,250,374 1,109,363 141,011 Travel Expense 43,526 48,009 (4,483) Investment Counsel Fees 221,425 302,524 (81,099) Total Investment Expenses 59,333,245$ 56,127,346$ 3,205,899$

Minority 5.5%

Women 14.5% Disabled

0.0% Non-

MWDBE (Minority, Women, Disabled Business

Enterprise) 80.0%

FY 2015 Percentage of Purchases

Exhibit 12b

STATE UNIVERSITIES RETIREMENT SYSTEMOPERATIONAL STATISTICSas of June 30, 2016

Defined Benefit Plan Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

Member Services - ProcessingRetirement Applications: Received 239 213 294 419 339 309 162 229 345 290 309 238 Processed 226 199 251 286 528 149 276 338 341 519 358 284 Outstanding 301 413 415 528 576 559 729 803 769 433 295 343 # of Days - Ready for Calc to Approval 25 33 42 49 45 56 56 57 43 46 38 33

Refund Applications: Received 317 338 317 282 368 339 389 366 402 308 320 335 Processed 328 277 382 281 363 517 347 413 467 352 318 331 Outstanding 222 288 240 253 256 200 247 231 202 200 232 258 # of Days- Application to Approval 23 24 25 45 24 25 18 14 11 15 15 15

Disability & DRA Applications: Received 38 33 43 37 41 32 38 43 37 45 35 41 Processed 50 53 63 88 45 40 42 44 47 63 55 59 Outstanding 121 122 117 121 115 128 118 123 122 123 115 102

Death Benefit Applications: 148 Received 140 90 141 119 132 127 140 145 148 128 125 136 Processed 105 170 100 113 90 73 82 138 112 161 133 664 Outstanding 687 589 600 620 658 692 734 720 763 697 690

Service Credit Purchases: Received 267 286 230 230 303 205 240 349 313 277 288 261 Processed 303 291 222 172 258 147 198 226 251 296 182 213 Outstanding 317 228 180 211 199 200 200 254 234 166 161 197

Insurance Direct Debit Participants 311 344 356 356 358 353 367 372 372 377 387 391

OutreachChampaign Office & All Phone Appts* 305 321 459 573 429 392 209 271 412 452 484 368Champaign Walk-in Visitors 700 713 665 926 753 573 635 601 885 769 826 760Naperville Office Appointments 55 41 42 22 48 30 30 42 24 30 56 0Written Estimates 87 80 120 82 74 113 146 95 104 59 69 51Group Presentations/Webinars 2 4 9 9 6 4 2 3 6 10 9 1Benefits Fairs 0 2 0 3 2 0 1 2 1 0 0 0Seminars 0 0 2 3 1 0 0 0 2 5 3 0

Incoming Webmails Processed 341 398 405 388 351 366 428 476 444 369 404 367

Telephone Calls 10,550 9,358 9,447 11,062 9,579 8,784 9,412 9,204 10,279 9,804 9,675 8,695 Ave Hold Time (minutes) 3:35 2:11 2:30 3:47 3:44 2:22 2:30 1:13 1:14 1:35 1:58 1:14 Ave Talk Time (minutes) 4:55 4:58 5:10 5:00 4:50 5:26 5:15 5:06 4:56 5:05 5:05 5:04 Abandoned Calls 1099 675 796 1244 1276 682 827 403 460 1305 660 380 Percent Calls Answered on 1st Ring 99.00% 99.00% 99.00% 99.00% 100.00% 99.00% 99.00% 100.00% 100.00% 99.00% 99.00% 99.00%

Human Resources

Staffing Approved FTE'S 132.00 132.00 132.00 132.00 132.00 132.00 132.00 132.00 132.00 132.00 132.00 132.00 Current FTE'S 126.00 128.00 127.00 128.00 128.00 126.00 127.00 127.00 127.00 125.00 125.00 125.00 Open FTE's 6.00 4.00 5.00 4.00 4.00 6.00 5.00 5.00 5.00 7.00 7.00 7.00

Current Staffing by Area Member Services 42.00 42.00 42.00 42.00 42.00 41.00 43.00 43.00 43.00 42.00 42.00 41.00 Outreach 30.00 30.00 30.00 30.00 30.00 30.00 32.00 32.00 32.00 31.00 31.00 32.00 Information Systems 24.25 26.25 24.25 24.25 24.25 23.25 22.25 22.25 22.25 22.25 22.25 22.25 Accounting 5.55 5.55 4.55 4.55 4.55 4.55 4.55 4.55 4.55 4.55 4.55 4.55 Administration 14.00 14.00 15.00 16.00 16.00 16.00 14.00 14.00 14.00 14.00 14.00 14.00 SMP 4.20 4.20 4.20 4.20 4.20 4.20 4.20 4.20 4.20 4.20 4.20 4.20 Investments 6.00 6.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00

Contractor FTE's 0 0 0 0 0 0 0 0 0 0 0 0Extra Help FTE's 0 0 0 0 0 0 0 1 1 2 2 2Interns 2 1 1 1 1 1 1 1 1 1 0 0

Known Retirements/Resignations 0 0 3 0 0 2 0 0 0 0 0 1Ongoing Disability (off site) 3 3 3 3 3 3 3 3 3 3 3 3Personal Leave 0 0 0 0 0 0 1 0 0 0 0 0Turnover Voluntary 0 0 0 0 0 0 0 0 0 1 0 1 Retirement 0 0 3 0 0 2 0 0 0 0 0 0 Termination 0 0 0 0 0 0 1 0 1 0 0 0New Hires 1 2 2 1 0 2 2 0 0 0 0 1Diversity-Race White 104 106 105 106 106 104 105 105 105 104 104 103 African American 12 12 12 12 12 12 11 11 11 10 10 10 Asian 5 5 5 5 5 5 6 6 6 6 6 6 Latino 5 5 5 5 5 5 5 5 5 5 5 5 Other 0 0 0 0 0 0 0 0 0 0 0 0

Diversity-Gender Male 39 40 40 40 40 39 39 39 39 39 39 40 Female 87 88 87 88 88 87 88 88 88 86 86 85

Diversity-Age 20 - 29 10 10 10 10 8 8 8 8 8 8 7 7 30 - 39 23 24 24 24 25 25 25 25 25 24 25 25 40 - 49 41 41 43 44 45 44 44 43 43 42 42 41 50 - 59 37 38 37 36 36 35 35 36 36 36 35 35 60 - 69 15 15 13 14 14 14 15 15 15 15 16 17 70+ 0 0 0 0 0 0 0 0 0 0 0 0

Overtime Hours 5.75 11.25 23.25 149 82.5 73.75 1 4.5 8 130.75 111 71.3Training Hours 182 120 110.5 296 95 106 111 95.5 102 196.5 97.25 75.5

Exhibit 12b

STATE UNIVERSITIES RETIREMENT SYSTEMOPERATIONAL STATISTICSas of June 30, 2016

Defined Benefit Plan Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

AccountingEmployer Payrolls Processed 164 139 150 169 145 175 136 154 164 147 161 158Administrative Expense Payments 242 187 222 258 212 217 223 214 204 252 212 174Purchase Order Requests 21 17 25 21 22 36 23 18 21 24 19 17

Outstanding Employer Web Events 280 290 300 456 370 342 297 288 277 253 327 307

Information Technology - Operations

Email Incoming Emails 145,930 141,047 123,504 118,721 116,323 140,637 129,450 127,721 167,688 163,169 165,618 126,456 Blocked Emails 91,045 89,173 68,246 62,743 62,455 86,124 75,714 73,690 108,461 108,636 111,653 74,893 Delivered Emails 54,885 51,874 55,258 55,978 53,868 54,513 53,736 54,031 59,227 54,533 53,965 51,563 System Capacity 54.40% 54.50% 48.90% 49.00% 48.70% 52.30% 50.70% 52.0% 52.2% 53.1% 53.1% 28.6%System Availability 99.52% 99.32% 97.53% 99.51% n/a n/a n/a n/a n/a n/a n/a 98.98%

System Response (avg in milliseconds) avg <=8ms avg <=8ms avg <=10ms avg <=8 ms n/a n/a n/a n/a n/a n/a n/a <=5ms

Support Services

Imaging/Data Entry Member Documents Scanned 20,768 10,570 12,947 12,923 10,146 11,338 10,865 10,527 11,691 10,660 12,049 11,009 Member Documents Imported 20,436 17,764 26,596 22,856 17,288 16,139 20,229 18,442 199,946 16,639 19,076 18,112 Admin Documents Scanned 349 493 254 599 486 419 273 276 490 389 411 478 Faxes Received 930 976 990 897 908 881 735 880 1,042 919 1,047 1,006 Print to TIFF 2,382 2,377 1,962 2,086 2,112 1,962 1,956 3,055 2,434 2,084 2,529 2,245 Web Generated Documents 441 414 431 405 492 541 751 618 608 573 487 509 Total Incoming Documents 45,306 32,594 43,180 39,766 31,432 31,280 34,809 33,798 216,211 31,264 35,599 33,359 Mailroom Statistics Outbound Items Mailed 23,594 21,146 23,141 21,837 61,717 75,969 134,702 25,163 24,161 24,161 22,606 76,204

Information Technology - Applications

Internet Visits Member Website 38,472 35,815 24,469 27,209 25,292 30,834 35,086 28,285 31,393 30,452 28,858 9,383 Internet Benefit Estimates 13,428 12,674 11,141 10,925 11,041 8,785 13,577 11,173 12,407 11,109 10,024 3,703 Employer Website 1,388 1,905 2,017 1,470 930 868 1,328 1,225 1,171 826 934 1,171 SURS Home Page 78,765 69,153 73,320 80,870 66,073 63,244 86,076 74,133 77,059 71,822 65,000 62,771

Process Change Requests (PCR's) New Requests 55 40 50 41 28 41 43 46 49 29 33 40 In Process 121 118 114 242 248 259 245 244 242 232 221 236 In User Test 39 40 44 41 41 50 62 55 61 55 56 54 Promoted 43 37 38 42 26 16 41 47 44 35 38 34

Program Promotions Word Letter 16 27 12 30 27 4 4 36 8 40 8 24 Web 21 33 40 17 12 6 57 12 33 77 23 19 CSG 66 108 39 103 25 35 43 40 26 99 72 44 Query 1 0 3 0 0 3 0 2 0 8 1 0

STATE UNIVERSITIES RETIREMENT SYSTEMRISK MANAGEMENT SUMMARYas of June 30, 2016

Risk Management: Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May JuneInternal audits Scheduled 15 15 15 15 15 15 15 15 15 15 15 15 In process 4 5 5 4 3 4 5 3 4 6 4 2 Completed 0 0 2 1 2 0 0 2 0 0 3 3

Planned Projects Scheduled 14 14 14 14 14 14 14 14 14 14 14 14 In process 0 1 1 1 1 1 4 1 1 0 0 0 Completed 1 1 1 1 1 1 1 1 1 2 1 1

Unplanned Projects Scheduled 0 0 0 0 0 0 0 0 0 0 0 0 In process 0 0 1 1 1 1 1 0 0 0 1 2 Completed 0 0 0 0 0 0 1 1 0 0 0 0

Exhibit 12b

STATE UNIVERSITIES RETIREMENT SYSTEM LEGAL AND LEGISLATIVE SUMMARY As of June 30, 2016

Litigation Name Cause of Action Attorney Fortis SA Securities Litigation

Securities Fraud Deminor International

Hypo Real Estate Holding AG Securities Litigation

Securities Fraud Cohen Milstein

Weisfelner v. Fund 1, et al./Lyondell Chemical Bankruptcy

Multiple Claims in Bankruptcy

Katten Muchin

In re: Tribune Fraudulent Conveyance Litigation

Multiple Claims in Bankruptcy

Katten Muchin

Royal Bank of Scotland (RBS) Group Law Action

Securities Fraud DRRT/Grant & Eisenhofer/Stewarts Law

Desai v. SURS, et al.

Declaratory Judgment Illinois Attorney General’s

Office

Lloyds/HBOS Group Law Action

Securities Fraud Illinois Attorney General’s Office

Moraine Valley Comm. College v. SURS, et al.

Administrative Review

Illinois Attorney General’s Office

Epps v. SURS, et al. Administrative

Review Illinois Attorney General’s Office

People ex. rel. SURS v. Toro

Collections Illinois Attorney General’s Office

People ex. rel. SURS v. Atchley

Collections Illinois Attorney General’s Office

Administrative Hearings Claims Panel Requests for Review Petitions Scheduled Petitions Heard Attorney/Staff

13 new reviews received; 1 decisions issued; 9 dismissals issued

2 scheduled Claims Panel did not meet in June.

Green/Lee/Lieb/Goodmann

Advice Provided Department Type Subject Matter Status Attorney Finance Legal ACA Reporting Ongoing Lee Administration Legal Social Security Safe Harbor Ongoing Lee Communications Legal Trademark Registration Ongoing Lee

Exhibit 12b

Finance Legal ER Contribution Deadlines Complete Lee Legal Legal Notarization for QILDROs Complete Lee/Green IT/Audit Legal Contract Deficiencies Complete Green Legal Legal Wage Garnishment Directive Complete Green Compliance Legal Analyze Conflict of Interest in

Supervisory Relationship Policy Complete Green

Administrative Requests Requests # Received. Processed Status Attorney/Staff QILDRO/Calculation Orders

9 Processed Completed Goodmann

Subpoena's 7 Processed Completed Goodmann Small Estate Affidavits 15 processed Completed Goodmann Contracts Number Vendor Contract Amount Status Attorney/Staff C16-66 TIAA None listed Complete Green C16-67 Heidrick and

Struggles Inc. $90,000 Complete Mary Pat Burns

C16-68 LANSA Not to exceed $100,000 Complete Green C16-69 Chapman and Cutler

LLP $6,000 Complete Green

C16-70 NIU Naperville $195 per event Complete Green C16-71 SunGard $3750 per month Complete Green Rules Heading Subject Matter Ex-Parte Communication Status Attorney/Staff 80 IL Adm Code 1600 1600.202, 203, 270,

275, 510 None Published in Illinois

Register on June 17, 2016. Effective June 3, 2016.

Lee/Goodmann

FOIA Number Date of Request Requestor/Firm Subject Matter Status 16-93 6.3.16 Haley Parker/Preqin Investment Completed 16-94 6.3.16 Tracy Farley/Quarles and Brady Member Completed 16-95 6.20.16 Matthew Geiger/None listed Member Completed 16-96 6.27.16 Brian Schaeflein/Oak Lawn Leaf Member Completed 16-97 6.28.16 Tristan Farough/None listed Member Completed

Exhibit 12b

0

20

40

60

80

100

120

FY2008

2009 2010 2011 2012 2013 2014 2015 2016

FOIA Requests

52% 24%

24%

Fiscal Year 2016 FOIA Requests by Subject Matter

MemberInformation

InvestmentInformation

SURSMiscellaneousInformation

Exhibit 12b

SURS SELF MANAGED PLAN

FINANCIAL STATEMENTS AND

SUMMARY OF PERFORMANCE MEASUREMENTS

As of June 30, 2016

Reporting Packet Includes: PageStatement of Operations 1Employer and Employee Contributions 1Statement of Net Assets 1Schedule of Administrative Expenses 2Performance Measures 2

Exhibit 12b

SURS SELF MANAGED PLANSTATEMENT OF OPERATIONSYear to date

July 1, 2015 - June 30, 2016


Employee contributions from: Balance transfers 2,100,429$ 2,784,646$ (684,217)$ -24.6% Contributions 71,813,978 68,628,064 3,185,914 4.6% Service credit purchases 558,559 591,880 (33,321) -5.6% Roll-ins 1,984,357 323,771 1,660,586 512.9%

Employer contributions from: State Appropriations 58,533,526 55,608,511 2,925,015 5.3% Trust, federal and grant funds 6,836,109 6,724,980 111,129 1.7%

Operating Revenue 141,826,958 134,661,852 7,165,106 5.3%

EXPENDITURES:

Retirement annuities & lump sum distribu 44,005,484 28,977,915 15,027,569 51.9%Death benefits 1,810,429 2,281,693 (471,264) -20.7%Separation refunds 24,820,515 22,646,708 2,173,807 9.6%Disability benefits 1,951,215 1,887,963 63,252 3.4%

Administrative expenses 479,170 466,383 12,787 2.7%

Operating Expenses 73,066,813 56,260,662 16,806,151 29.9%

Net Operating Gain / (Loss) 68,760,145 78,401,190 (9,641,045) -12.3%

Net Investment Income / (Loss) 3,191,609 90,461,460 (87,269,851) -96.5%

Increase/ (Decrease) in Net Assets 71,951,754 168,862,650 (96,910,896) -57.4%

Net Assets, Beginning of Period 1,753,554,014 1,584,691,364 168,862,650 10.7%

Net Assets, End of Period 1,825,505,768$ 1,753,554,014$ 71,951,754 4.1%

Employer and Employee Contributions - Self Managed Plan

YTD Estimated TotalFY 2016 FY 2016 FY 2015

Employer Rate 7.60% 7.60% 7.60%Employee Rate 8.00% 8.00% 8.00%Employer Contribution - State 58.5 million 52.4 million 55.6 millionEmployer Contribution - trust/federal/gra 6.8 million 4.9 million 6.7 millionEmployee Contribution 76.5 million 63.5 million 72.3 million

SURS SELF MANAGED PLANSTATEMENT OF NET ASSETS As of June 30, 2016


Assets

Accounts Receivable 4,992,945$ 5,321,617$ (328,672)$ -6.2%

Investments: Cash and short term investments 154,259,394 140,918,651 13,340,743 9.5% Equities 881,159,025 915,985,423 (34,826,398) -3.8% Fixed income 146,695,089 128,622,413 18,072,676 14.1% Balanced funds 504,489,162 442,486,372 62,002,790 14.0% Real estate 37,051,275 26,133,922 10,917,353 41.8% Disability funds 87,339,088 86,399,199 939,889 1.1% Employer forfeiture funds 9,519,790 7,686,417 1,833,373 23.9%

Total Assets 1,825,505,768 1,753,554,014 71,951,754 4.1%

Liabilities and Reserves

Member balances 1,728,642,876 1,659,461,415 69,181,461 4.2%

Reserve for disability benefits 87,343,102 86,406,182 936,920 1.1%

Reserve for employer forfeitures 9,519,790 7,686,417 1,833,373 23.9%

Total Liabilities and Reserves 1,825,505,768$ 1,753,554,014$ 71,951,754$ 4.1%

Exhibit 12b

SURS SELF MANAGED PLAN

Administrative ExpensesJuly 1, 2015 - June 30, 2016

Y-T-D Y-T-D PriorBudget Actual Year $ % $ %

ITEM:Personal services:*Salaries & wages 287,814$ 288,652$ 282,496$ (838)$ -0.3% 6,156$ 2.2%Employee's group health insurance 83,786 96,258 83,786 (12,472) -14.9% 12,472 14.9%Retirement contributions 35,552 35,667 32,370 (115) -0.3% 3,297 10.2%Medicare 3,850 4,185 4,096 (335) -8.7% 89 2.2% Total Personal Services 411,002 424,762 402,749 (13,760) -3.3% 22,013 5.5%

Contractual services:Investment consulting 51,500 43,500 54,375 8,000 15.5% (10,875) -20.0%Legal fees - - 0 0.0% - 0.0%Postage 18,266 6,322 5,638 11,944 65.4% 684 12.1%Printing & copying 1,712 1,149 1,666 563 32.9% (517) -31.0% Conference and meeting expenses 400 - - 400 100.0% - 0.0%Association Fees 600 600 600 0 0.0% - 0.0%Employer & Member Seminars - - 391 0 0.0% (391) -100.0%Travel 5,050 2,837 963 2,213 43.8% 1,874 194.6% Total Contractual Services 77,528 54,408 63,633 23,120 29.8% (9,225) -14.5%

TOTAL 488,530 479,170 466,382 9,360 1.9% (12,788) -2.7%

SURS SELF MANAGED PLANOPERATIONAL STATISTICS As of June 30, 2016

Self-Managed Plan July August September October November December January February March April May June

ProcessingMember allocations: by telephone 5 4 3 3 4 3 4 2 4 5 0 0 by internet 20 92 107 108 99 106 151 117 89 73 51 66 by mailed form 108 66 50 32 33 22 32 40 26 21 16 17

Terminations processed 154 96 128 165 130 95 82 92 114 83 103 133

Re-hires processed 14 20 22 18 8 3 22 17 8 7 8 7

Information distributed: Distribution packets to members 154 127 155 211 159 117 125 123 169 115 155 178 Withdrawal forms to providers 78 94 78 97 82 57 78 97 81 76 73 85

Retirement eligible lump sum payment 18 18 19 32 26 16 7 17 30 17 14 8

Separation refund payments 108 114 111 90 109 109 91 88 110 106 140 108

Death claim payments 4 1 1 2 0 2 2 3 0 2 1 3

SMP elections/ total plan elections 113 145 137 121 116 116 152 132 100 78 65 83

Total plan elections 915 771 627 625 535 620 855 931 1106 594 522 479SMP % of total elections 12.30% 18.80% 21.85% 19.36% 21.70% 18.70% 17.78% 14.18% 9.00% 13.13% 12.45% 17.30%Total active participants 13,063 13,095 13,083 13,067 13,032 13,070 13,160 13,175 13,147 13,161 13,144 13,077Total terminated participants 6,665 6,687 6,752 6,812 6,868 6,860 6,874 6,931 6,956 6,941 6,955 7,034

Total SMP Participants 19,728 19,782 19,835 19,879 19,900 19,930 20,034 20,106 20,103 20,102 20,099 20,111Member ContactWalk-in 12 20 6 6 6 2 4 6 14 10 20 4Telephone calls 385 371 296 375 287 214 331 348 356 361 415 382Unified Statements-email notice 16,460 0 0 15,453 0 0 15,313 0 0 15,575 0 0Webmail inquiries 54 57 45 38 33 40 57 88 81 63 63 62SMP Counseling Appointments 16 18 26 12 14 22 23 22 28 18 19 25

Under (Over)From Budget From Prior Yr

Increase (Decrease)

Exhibit 12b

Date: September 1, 2016 To: Board of Trustees From: Phyllis L. Walker Re: SURS Variance Analysis – 4th Quarter Fiscal Year 2016 Administrative Expenses

Attached is the Summary of Administrative Expenses and Capital Expenditures of the State Universities Retirement System financial activity as of the 4th Quarter of Fiscal Year 2016 (July 1, 2015 – June 30, 2016). The total non-capital variance is under budget by 4.4%. Below is the variance explanation of a few of the significant variances.

Expense Line Item Variance Explanation

Salaries & Wages Under by $261,773 Under due to several open positions as a result of staff retirements.

Employee Health Insurance Over by $69,925 Over due to staff insurance premium expense being higher than expected. Budgeted 5% increase and employer premiums increased between 8-18%.

Statistical & Tabulation-Operations

Under by $129,743 Under due to (1) the hosted website project ($50k) deferred to FY 17, (2) the Sharepoint project ($31.2k) deferred to FY 17, (3) the security audit ($20k) deferred to FY 17, and (4) the KTM project transferred to the IT Development cost center.

Auditing & Management Services

Under by $34,006 Under due to employer audit expense was lower than budgeted and the Enterprise Risk Assessment Study was not performed.

Legal Counsel Under by $27,146 Under due to legal litigation expense ($40k) and benefit expense ($37.5k) being lower than budgeted offset by legal board ($37k) and general expense ($13k) being higher than budgeted.

Actuarial Consultant Under by $26,757 Under due to fewer request for legislative actuarial studies this fiscal year.

Professional & Artistic Services/Recruitment

Over by $35,467 Over due to the (1) chief investment officer search not budgeted, offset by the (1) data center environmental study ($19.6k) not being completed, done, (2) recruitment and relocation expense ($15.5) budgeted not needed, (3) a planned employee data file project ($7k) postponed to FY 2017, (4) recruitment expenses

Exhibit 12b

($5.5) lower than budgeted and (5) a planned video project ($5k) postponed.

Building & Grounds Maintenance

Under by $53,619 Under due to the remodeling of SURS office space being lower than anticipated and the building maintenance expense being lower than anticipated.

Postage Under by $29,978 Under due to CMS booklet mailing was not required and the benefit statement summaries were issued online.

Surety, Bond & Insurance Under by $28,065 Under due to the 2016 fiduciary insurance expense was lower than budgeted due to the policy period requested was 10 months (8/30/2015- 06/30/2016)

Travel Over by $17,630 Over due to the administrative staff travel not budgeted.

EDP Supplies & Equipment Under by $32,643 Under due to purchase of supplies and equipment were lower than anticipated

Capital Expenditure Under by $349,077 Under due to the (1) building system automation project ($265k) postponed, (2) the network backbone project phase I ($94k) less than budgeted, (3) the parking lot project ($75k) postponed, (4) the building modification project ($41k) less than budgeted, and (5) the video surveillance ($20k) not purchased offset by (1) the business workflow ($71k) planned being higher than budgeted, and (2) the office furniture ($68k) purchase not budgeted.

Exhibit 12b

STATE UNIVERSITIES RETIREMENT SYSTEMSUMMARY OF EXPENSES

July 1, 2015 - June 30, 2016Y-T-D Y-T-D Prior Under (Over) Budget

Administrative Expenses Budget Actual Year $ %ITEM:Personal Services:Salaries & Wages 8,105,949$ 7,844,176$ 7,510,708$ 261,773$ 3.2%Employee's Group Health Insurance 2,424,575 2,494,500 2,199,048 (69,925) -2.9%Retirement Contributions 983,589 964,392 863,175 19,197 2.0%Medicare 110,220 101,273 99,940 8,947 8.1% Total Personal Services 11,624,333 11,404,341 10,672,871 219,992 1.9%

Contractual Services:Freight, Express & Drayage 13,600 4,693 13,207 8,907 65.5%Repairs & Maintenance, Equipment 8,300 6,678 10,226 1,622 19.5%Repairs & Maintenance EDP 84,547 67,369 72,411 17,178 20.3%Statistical & Tabulation-Applications 179,709 157,593 138,321 22,116 12.3%Statistical & Tabulation-Operations 616,196 486,453 461,759 129,743 21.1%Medical Consultant Fees 10,000 3,046 7,055 6,954 69.5%Auditing & Management Services 88,694 54,688 23,632 34,006 38.3%Legal Counsel 184,000 156,854 261,198 27,146 14.8%Actuarial Consultant 284,000 257,243 228,180 26,757 9.4%Professional & Artistic Services, Recruit 277,120 312,587 339,818 (35,467) -12.8%Building and Ground Maintenance 197,535 143,916 119,342 53,619 27.1%Utilities 103,700 91,698 92,378 12,002 11.6%Postage 313,024 283,046 376,696 29,978 9.6%Surety, Bond & Insurance 279,500 251,435 261,744 28,065 10.0%Subscriptions/Information Services 29,254 28,148 25,997 1,106 3.8%Board Travel 25,000 25,225 21,042 (225) -0.9%Board Meeting Expenses 11,530 8,695 9,666 2,835 24.6%Conference Fees & Expenses 36,803 25,958 17,494 10,845 29.5%Association Dues 26,056 23,199 25,336 2,857 11.0%Employee Training, Tuition 38,670 24,670 35,936 14,000 36.2%Copying, Photographic & Printing 29,020 19,142 26,136 9,878 34.0%Travel 94,297 111,927 71,160 (17,630) -18.7%Printing Supplies 48,900 42,990 35,102 5,910 12.1%Office & Library Supplies 59,035 47,462 53,038 11,573 19.6%EDP Supplies & Equipment 104,100 71,457 86,220 32,643 31.4%Office Rental 30,036 19,890 28,796 10,146 33.8%Rental, Phone Services/Equipment 111,460 106,202 100,914 5,258 4.7% Total Contractual Services 3,284,086 2,832,264 2,942,802 451,822 13.8%Depreciation 494,767 494,767 453,600 - 0.0% TOTAL 15,403,186$ 14,731,372$ 14,069,273$ 671,814$ 4.4%

Capital Expenditures Budget:Office furniture & IS equipment 485,000$ 528,592$ 197,006$ (43,592)$ -9.0%Building Improvements 417,000$ 24,331$ 282,549$ 392,669 94.2% TOTAL 902,000$ 552,923$ 479,555$ 349,077$ 38.7%

Exhibit 12b

Check ReportSTATE UNIV RETIREMENT SYSTEM Page 107-01-2016

CheckCheck Date Amount Name Description

58797 04-01-2016 248.74 AFLAC STAFF PYRL DEDUCTION 58798 04-01-2016 16,765.74 AFSCME CHAPTER 31 ANNUITANT DEDUCTION 58799 04-01-2016 4,228.50 AMERICAN UNITED LIFE INS. ANNUITANT DEDUCTION 58800 04-01-2016 1,069.68 AT&T MAR16-APR15 2016 PHONE SVC 58801 04-01-2016 7,649.23 BLACK HAWK COLLEGE ANNUITANT DEDUCTION 58802 04-01-2016 60.00 BRIGHT START COLLEGE SAVINGS WALKER PYRL DEDUCTION 58803 04-01-2016 2,358.87 A & R SHARED SERVICES STAFF PYRL DEDUCTION 58804 04-01-2016 7,519.00 DEF COMP PLAN FUND STAFF PYRL DEDUCTION

04-01-2016 DEF COMP PLAN FUND ROTH STAFF PYRL DEDUCTION 58805 04-01-2016 2,852,278.26 A & R SHARED SERVICE CENTER ANNUITANT DEDUCTION 58806 04-01-2016 13,381.25 A & R SHARED SERVICE CENTER STAFF PYRL DEDUCTION 58807 04-01-2016 2,261.34 A & R SHARED SERVICE CENTER STAFF PYRL DEDUCTION 58808 04-01-2016 3,060.00 COOK CO COLLEGE TEACHERS UNION ANNUITANT DEDUCTION 58809 04-01-2016 375.00 DEAN'S GRAPHICS BANNERS FOR EVENTS 58810 04-01-2016 202.50 FE MORAN INC. APR-JUN 2016 ALARM SVC 58811 04-01-2016 399.21 ILLINOIS VALLEY COMM COLLEGE ANNUITANT DEDUCTION 58812 04-01-2016 1,224.73 INTERNAL REVENUE SERVICE XXX-XX-0383 APR 2016 PMT 58813 04-01-2016 1,000.00 INTERNAL REVENUE SERVICE XXX-XX-7143 APR 2016 PMT 58814 04-01-2016 5,554.76 INTERNAL REVENUE SERVICE XXX-XX-5594 APR 2016 PMT 58815 04-01-2016 1,087.20 INTERNAL REVENUE SERVICE XXX-XX-5210 APR 2016 PMT 58816 04-01-2016 92.08 UNITED STATES TREASURY XXX-XX-5913 APR 2016 PMT 58817 04-01-2016 4,966.50 ISEA/RETIREES ANNUITANT DEDUCTION 58818 04-01-2016 1,805.77 LAKE LAND COLLEGE ANNUITANT DEDUCTION 58819 04-01-2016 3.30 MCHENRY COMM COLLEGE INS ANNUITANT DEDUCTION 58820 04-01-2016 266.03 NEWEGG.COM SUPPLIES

04-01-2016 NEWEGG.COM MONITORS #6240-624104-01-2016 NEWEGG.COM SUPPLIES

58821 04-01-2016 3,200.00 PARKLAND COLLEGE FEB18 STRATEGIC PLANNING TRAIN 58822 04-01-2016 4,880.00 PARKLAND COLLEGE ANNUITANT DEDUCTION 58823 04-01-2016 339.42 QUICKSILVER MAILING SERVICES MAR 2016 POSTAGE(PRESORT) 58824 04-01-2016 1,106.71 ROGARDS OFFICE SUPPLIES-COPY PAPER 58825 04-01-2016 1,150.00 TOMASINE ROMANO XXX-XX-4355 APR 2016 PMT 58826 04-01-2016 114.00 SCHOONOVER SEWER SERVICE SINK LINE 58827 04-01-2016 370.00 SECURITY DOOR & HARDWARE CO. DOOR CLOSERS 58828 04-01-2016 187.02 STAPLES ADVANTAGE OFFICE SUPPLIES

04-01-2016 STAPLES ADVANTAGE OFFICE SUPPLIES 58829 04-01-2016 25,623.73 STATE UNIV. ANNUITANTS ASSN. ANNUITANT DEDUCTION 58830 04-01-2016 2,750.00 SUNGARD AVAILABILITY SERVICES MAY 2016 BRS 58831 04-01-2016 2,405.00 TRITON COLLEGE ANNUITANT DEDUCTION 58832 04-01-2016 389.00 UNIVERSITY PROFESSIONALS IL. ANNUITANT DEDUCTION 58833 04-01-2016 3,741.00 UNIVER OF IL CAMPUS RECREATION ANNUITANT DEDUCTION 58834 04-01-2016 17.00 UNIVERSITY OF ILLINOIS HAYWARD PYRL DEDUCTION 58835 04-01-2016 210.00 UPCLOSE PRINTING BUSINESS CARDS (1200) 58836 04-01-2016 605.00 UPI-COPE ANNUITANT DEDUCTION 58837 04-01-2016 2,992.99 UNITED STATE TREASURY XXX-XX-8400 APR 2016 PMT 58838 04-01-2016 50.00 US TREASURY XXX-XX-1467 APR 2016 PMT 58839 04-05-2016 852.16 SUMMARY PAYMENT INS PREM REF (PB CK REISSUE) 58840 04-05-2016 9,114.54 BURKE BURNS & PINELLI, LTD FEB 2016 LEGAL SVC 58841 04-05-2016 51.91 CHAMPAIGN DO-IT-BEST HARDWARE GENERAL HARDWARE

04-05-2016 CHAMPAIGN DO-IT-BEST HARDWARE GENERAL HARDWARE04-05-2016 CHAMPAIGN DO-IT-BEST HARDWARE GENERAL HARDWARE04-05-2016 CHAMPAIGN DO-IT-BEST HARDWARE GENERAL HARDWARE04-05-2016 CHAMPAIGN DO-IT-BEST HARDWARE GENERAL HARDWARE04-05-2016 CHAMPAIGN DO-IT-BEST HARDWARE GENERAL HARDWARE

58842 04-05-2016 487.80 CHAMPAIGN TELEPHONE CO NETWORK CABLES 58843 04-05-2016 447.00 DIRECT EXPRESS OFF. SUPPLIES TONER (LEX T650H) (3) 58844 04-05-2016 1,025.45 HALO OFFICE FLAGS 58845 04-05-2016 257.25 HERRIOTT'S COFFEE COMPANY COFFEE SUPPLIES 58846 04-05-2016 24,258.00 JACKSON WALKER L.L.P. FEB 2016 LEGAL-ADAMS ST GLOBAL

Exhibit 12b



58846 04-05-2016 24,258.00 JACKSON WALKER L.L.P. FEB 2016 LEGAL-CROW HOLDINGS04-05-2016 JACKSON WALKER L.L.P. FEB 2016 LEGAL-TRADEMARK APPLI04-05-2016 JACKSON WALKER L.L.P. FEB 2016 LEGAL-PIMCO COMMODITY04-05-2016 JACKSON WALKER L.L.P. FEB 2016 LEGAL-KKR PRISMA04-05-2016 JACKSON WALKER L.L.P. FEB 2016 LEGAL-PAAMCO04-05-2016 JACKSON WALKER L.L.P. FEB 2016 LEGAL-INVESCO BAL-RIS

58847 04-05-2016 123,392.59 JACOBS LEVY EQUITY MGMT, INC. FINAL MGMT FEE (JAN1-FEB4 2016 58848 04-05-2016 4,000.00 JANET JONES & ASSOCIATES, INC. MAR 2016 LOBBY SVC 58849 04-05-2016 4,274.50 MAYER BROWN LLP FEB 2016 13434496 FAIRVIEW

04-05-2016 MAYER BROWN LLP FEB 2016 14463079 RECURRING SV 58850 04-05-2016 221.96 NEWEGG.COM #6242-43 MONITORS (ACER) (3) 58851 04-05-2016 43.52 PROPIO LANGUAGE SERVICES MAR 2016 INTERP SVC 58852 04-05-2016 961.58 RICOH USA INC COMP RM B/W PRINTER

04-05-2016 RICOH USA INC COMP RM COLOR PRINTER 58853 04-05-2016 52.85 ROGARDS PENS (2R, 1BLK, 1BLU)

04-05-2016 ROGARDS PENS (1BLU) 58854 04-05-2016 467.27 STAPLES ADVANTAGE COPY PAPER BLUE (4)

04-05-2016 STAPLES ADVANTAGE OFFICE SUPPLIES 58855 04-05-2016 61.18 UNITED PARCEL SERVICE FREIGHT MAR21-25 58857 04-07-2016 322.57 SUMMARY PAYMENT INS PREM REF 58858 04-07-2016 19.50 ABRAHAM LINCOLN LIB FOUNDATION CURTIS-Q1 2016 CONTRIBUTION 58859 04-07-2016 19.50 ALZHEIMER'S ASSOC GREAT IL CHA CURTIS-Q1 2016 CONTRIBUTION 58860 04-07-2016 30.00 AMERICAN RED CROSS DUNN-Q1 2016 CONTRIBUTION 58861 04-07-2016 30.00 CHAMPAIGN COUNTY CT APPOINTED FITCH-Q1 2016 CONTRIBUTION 58862 04-07-2016 20.00 CITY OF CHAMPAIGN ALARM PERMIT 58863 04-07-2016 91,670.97 DEPT OF CENTRAL MANAGEMENT ER PREMIUM PPE041516 58864 04-07-2016 30.00 COURAGE CONNECTION FITCH-Q1 2016 CONTRIBUTION 58865 04-07-2016 90.00 CRISIS NURSERY DUNN-Q1 2016 CONTRIBUTION

04-07-2016 CRISIS NURSERY FITCH-Q1 2016 CONTRIBUTION 58866 04-07-2016 30.00 CYSTIC FIBROSIS FOUNDATION DUNN-Q1 2016 CONTRIBUTION 58867 04-07-2016 30.00 DAILY BREAD SOUP KITCHEN FITCH-Q1 2016 CONTRIBUTION 58868 04-07-2016 90.00 EASTERN ILLINOIS FOODBANK DUNN-Q1 2016 CONTRIBUTION

04-07-2016 EASTERN ILLINOIS FOODBANK FITCH-Q1 2016 CONTRIBUTION 58869 04-07-2016 54.35 ILLINOIS AMERICAN WATER MAR31-APR28 2016 FIRE SVC 58870 04-07-2016 209.75 ILLINOIS PRESS ASSOCIATION MAR 2016 READING FEE & CLIPS 58871 04-07-2016 1,050.00 MICROAGE ABSOLUTE LAPTOP TRACKER 58872 04-07-2016 3,937.50 MRC INFORMATION TECHNOLOGY INC MAR 2016 KTM DEVELOPMENT 58873 04-07-2016 125.00 NASP RAMOS CONF FEE 58874 04-07-2016 404.90 NEWEGG.COM SUPPLIES 58875 04-07-2016 145.95 PLANTS ETC MAR 2016 PLANT SVC 58876 04-07-2016 1,628.31 QUICKSILVER MAILING SERVICES MAR 2016 POSTAGE (PRESORT)

04-07-2016 QUICKSILVER MAILING SERVICES MAR 16-31 2016 FLATS POSTAGE 58877 04-07-2016 60.00 SALT & LIGHT DUNN-Q1 2016 CONTRIBUTION

04-07-2016 SALT & LIGHT FITCH-Q1 2016 CONTRIBUTION 58878 04-07-2016 4,510.00 SOFTWARE HARDWARE INTEGRATION VEEAM BACKUP SOFTWARE 58879 04-07-2016 19.50 STEPHENS FAMILY YMCA CURTIS-Q1 2016 CONTRIBUTION 58880 04-07-2016 60.00 UNITED WAY OF EDGAR COUNTY WILLOUGHBY-Q1 2016 CONTRIBUTIO 58881 04-07-2016 200.80 UNITED STATES POSTAL SERVICE POSTAGE NAPERVILLE 58882 04-12-2016 20.00 SUMMARY PAYMENT MID#1219395 SEMINAR REFUND 58883 04-12-2016 234.65 CG SIGNATURE EVENTS CATERING APR6-RETM SEMINAR BOX LUNCHES 58884 04-12-2016 1,949.26 EXPRESS SERVICES, INC. ASHLEY COOK- MAR14-18

04-12-2016 EXPRESS SERVICES, INC. ASHLEY COOK- MAR21-25 58885 04-12-2016 14,884.25 GABRIEL,ROEDER,SMITH & CO. MAR 2016 ACT SVC & AUD SUPPORT 58886 04-12-2016 499.00 INSTITUTIONAL LIMITED PARTNERS CONF FEE JUN1-3 CHICAGO 58887 04-12-2016 279.00 MICHAELS CATERING APR5 RETM SEMINAR EXEC BOX MEA 58888 04-12-2016 25.50 TROPHYTIME NAME TAG (3) SUPER MAGNET (3) 58889 04-12-2016 83.33 UNITED PARCEL SERVICE FREIGHT MAR28-APR1 58890 04-12-2016 74.45 WALZ LABEL AND MAILING SYSTEMS STK#7352 SEAL TIGHT (4) 58891 04-12-2016 22.29 CG SIGNATURE EVENTS CATERING APR6-RETM SEMINAR BOX LUNCHES

Exhibit 12b



58892 04-14-2016 248.74 AFLAC STAFF PYRL DEDUCTION 58893 04-14-2016 6,660.77 AMEREN ILLINOIS MAR 2016 ELECTRIC SVC 58894 04-14-2016 214.87 AREA DISPOSAL SERVICE, INC. MAR 2016 TRASH SVC 58895 04-14-2016 60.00 BRIGHT START COLLEGE SAVINGS WALKER PYRL DEDUCTION 58896 04-14-2016 194.90 C D S OFFICE TECHNOLOGIES RETM COPIER SVC

04-14-2016 C D S OFFICE TECHNOLOGIES ACCT COPIER SVC04-14-2016 C D S OFFICE TECHNOLOGIES CALLCTR/PAYB COPIER SVC

58897 04-14-2016 518.26 CG SIGNATURE EVENTS CATERING MAR30 RETIRE SEMINAR BOX LUNCH 58898 04-14-2016 2,358.87 A & R SHARED SERVICES STAFF PYRL DEDUCTION 58899 04-14-2016 7,519.00 DEF COMP PLAN FUND STAFF PYRL DEDUCTION

04-14-2016 DEF COMP PLAN FUND ROTH STAFF PYRL DEDUCTION 58900 04-14-2016 114,985.27 DEPT OF CENTRAL MANAGEMENT STAFF PYRL DEDUCTION 58901 04-14-2016 13,381.25 A & R SHARED SERVICE CENTER STAFF PYRL DEDUCTION 58902 04-14-2016 2,261.34 A & R SHARED SERVICE CENTER STAFF PYRL DEDUCTION 58903 04-14-2016 173.77 COMCAST CABLE & INTERNET APR 2016 TV SVC

04-14-2016 COMCAST CABLE & INTERNET APR 2016 INTERNET SVC 58904 04-14-2016 2,342.50 HONEYWELL INC. MAY 2016 TEMP CONTROL SVC 58905 04-14-2016 552.23 ILLINOIS STATE DISBURSEMENTS 12-D-1914 YOUNG PYRL DEDUCTION 58906 04-14-2016 558.00 ILLINOIS STATE DISBURSEMENTS 14-D-53 DUNCAN PYRL DEDUCTION 58907 04-14-2016 175.24 ILLINOIS STATE DISBURSEMENTS 96-D-490 JOHNSON PYRL DEDUCTIO 58908 04-14-2016 619.32 NEWEGG.COM SUPPLIES

04-14-2016 NEWEGG.COM #6244 MONITOR04-14-2016 NEWEGG.COM SUPPLIES

58909 04-14-2016 2,052.01 PAETEC MAR4-APR3 2016 PHONE SVC 58910 04-14-2016 572.01 SECOND EXECUTIVE PARK MAR 2016 SNOW REMOVAL

04-14-2016 SECOND EXECUTIVE PARK APR 2016 MOWING04-14-2016 SECOND EXECUTIVE PARK MAR 2016 GEESE CONTROL04-14-2016 SECOND EXECUTIVE PARK MAR 2016 TRIM/WEED/FERT

58911 04-14-2016 602.96 SHRED-IT USA MAR 2016 SHREDDING SVC 58912 04-14-2016 331,188.08 SIRIUS Computer Solutions BACKBONE UPGRADE

04-14-2016 SIRIUS Computer Solutions BACKBONE UPGRADE04-14-2016 SIRIUS Computer Solutions BACKBONE UPGRADE

58913 04-14-2016 720.00 TAA TOOLS INC JUN 2016-2017 MAINT 58914 04-14-2016 994.17 THOMSON WEST MAR 2016 LEGAL SUBSCRIPTION 58915 04-14-2016 17.00 UNIVERSITY OF ILLINOIS HAYWARD PYRL DEDUCTION 58916 04-14-2016 38.00 UPCLOSE PRINTING BUSINESS C ARDS (200) 58917 04-14-2016 269.44 URBANA/CHAMPAIGN SAN DIST FEB15-MAR15 2016 SEWER 58918 04-14-2016 1,764.00 WATTS COPY SYSTEMS MAILROOM COPIER SVC 58919 04-19-2016 175.00 ACFE TAYLOR-2016-2017 MBRSHP 58920 04-19-2016 2,000.00 ASSOC. OF IL. PUBLIC RET. SYS. 2016 PROPORT. SHARE ADMIN 58921 04-19-2016 527.18 CG SIGNATURE EVENTS CATERING APR14 RETM EDUC SEMINAR 58922 04-19-2016 421.80 CHEMICAL MAINTENANCE, INC. JANITOR SUPPLIES 58923 04-19-2016 376.50 DEAN'S GRAPHICS TABLE COVERS (2) 58924 04-19-2016 16,900.98 FUNSTON ADVISORY SERVICES LLC FEB INVESTMENT SVC 58925 04-19-2016 100.00 LEXISNEXIS RISK SOLUTIONS FEB-MAR MIN COMMITMENT 58926 04-19-2016 45.00 M & S PEST CONTROL APR 2016 SVC 58927 04-19-2016 895.00 NAPPA GREEN-2016 LEGAL EDUCATION CON 58928 04-19-2016 2,487.33 NORTHERN ILLINOIS UNIVERSITY MAR24 RETM SEM ROOM

04-19-2016 NORTHERN ILLINOIS UNIVERSITY APR 2016 RENT NAPERVILLE 58929 04-19-2016 34.72 PEPSI-COLA C-U BOTTLING CO. BEVERAGE SUPPLIES 58930 04-19-2016 6,193.64 PRUDENTIAL GROUP INSURANCE 92631 FEB 2016 STAFF LONG TERM

04-19-2016 PRUDENTIAL GROUP INSURANCE 92631 JAN 2016 STAFF LONG TERM04-19-2016 PRUDENTIAL GROUP INSURANCE 92631 DEC 2015 STAFF LONG TERM04-19-2016 PRUDENTIAL GROUP INSURANCE 92631 NOV 2015 STAFF LONG TERM

58931 04-19-2016 11,000.00 RESERVE ACCOUNT APR-MAY POSTAGE 58932 04-19-2016 874.75 ROGARDS OFFICE SUPPLIES 58933 04-19-2016 3,011.00 SCANNER SOLUTIONS.COM DOCUMENT SCANNERS MAINT 58934 04-19-2016 2,342.96 SPOC LLC APR 2016 PHONE SVC 58935 04-19-2016 961.52 STAPLES ADVANTAGE OFFICE SUPPLIES

Exhibit 12b



58935 04-19-2016 961.52 STAPLES ADVANTAGE OFFICE SUPPLIES04-19-2016 STAPLES ADVANTAGE OFFICE SUPPLIES04-19-2016 STAPLES ADVANTAGE OFFICE SUPPLIES-AUD CONF

58936 04-19-2016 994.17 THOMSON WEST JAN 2016 LEGAL SUBSCRIPTION 58937 04-19-2016 1,578.04 UNIVERSITY OF ILLINOIS @00873227 MAR 2016 CARPOOL 58938 04-19-2016 2,543.48 UPKEEP MAINTENANCE SERVICE JANITORIAL SERVICES 58939 04-19-2016 96.43 UNITED PARCEL SERVICE FREIGHT APR4-APR8 58940 04-19-2016 447.00 CISCO WEBEX, LLC MAR 2016 VIDEO CONF 58941 04-19-2016 160.00 MARSHA HOLUB STALEDATE CHECK 58942 04-19-2016 180.29 MICHAEL S MORGAN STALEDATE CHECK 58943 04-21-2016 15.00 SUMMARY PAYMENT MID#1061174 SEMINAR REFUND 58944 04-21-2016 10.00 SUMMARY PAYMENT MID#1060578 SEMINAR REFUND 58945 04-21-2016 2.50 AMERICAN MESSAGING APR8 2016 PAGER SVC 58946 04-21-2016 11,088.00 BURKE BURNS & PINELLI, LTD MAR 2016 LEGAL SVC 58947 04-21-2016 57.97 C D S OFFICE TECHNOLOGIES FRONTDESK COPIER SVC 58948 04-21-2016 27.08 COUNTRY ARBORS NURSERY INC GROUNDS MAINT 58949 04-21-2016 31,500.00 DMG CONSULTING CALL CENTER ROADMAP 58950 04-21-2016 4,109.00 JACKSON WALKER L.L.P. MAR 2016 LEGAL-TRADEMARK

04-21-2016 JACKSON WALKER L.L.P. MAR 2016 LEGAL-RISK COMM TRUST04-21-2016 JACKSON WALKER L.L.P. MAR 2016 LEGAL-GOVERNING DOCS

58951 04-21-2016 4,286.25 MAYER BROWN LLP MAR 2016 15479346 BLUE VISTA R04-21-2016 MAYER BROWN LLP MAR 2016 14463079 RECURRING SV

58952 04-21-2016 191.98 NEWEGG.COM #6245 MONITOR 58953 04-21-2016 54.00 NOTARIES ASSOC. OF ILLINOIS BAUER-RENEWAL FEE 58954 04-21-2016 639.45 QUICKSILVER MAILING SERVICES APR 1-15 2016 FLATS POSTAGE 58955 04-21-2016 347.94 ROGARDS COPY PAPER 58956 04-21-2016 48.46 SECOND EXECUTIVE PARK DEBRIS HAULING 58957 04-21-2016 2,610.95 ESTATE OF HELEN A. HELBERT STALEDATE CHECK 58958 04-21-2016 200.00 MARK R JORDAN STALEDATE CHECK 58959 04-21-2016 425.00 MELVIN J DIAMOND STALEDATE CHECK 58960 04-26-2016 1,069.68 AT&T APR16-MAY15 2016 PHONE SVC 58961 04-26-2016 19,694.25 CM FIRST TECHNOLOGIES UPGRADE SIGN ON

04-26-2016 CM FIRST TECHNOLOGIES UPGRADE SIGN ON04-26-2016 CM FIRST TECHNOLOGIES UPGRADE SIGN ON04-26-2016 CM FIRST TECHNOLOGIES UPGRADE SIGN ON

58962 04-26-2016 1,243.00 COMMUNICATION REVOLVING FUND T2222476 MAR 2016 ICN INTERNET04-26-2016 COMMUNICATION REVOLVING FUND T6939999 MAR 2016 INS CONNECTI

58963 04-26-2016 557.04 STATISTICAL SERVICES REVOLVING S6930000 MAR 2016 CMS FUNDS 58964 04-26-2016 1,118.75 CONFERENCE TECHNOLOGIES, INC. RESTORE CONTROL FUNCTIONS 58965 04-26-2016 399.75 ILLINOIS AMERICAN WATER MAR16-APR15 2016 WATER SVC 58966 04-26-2016 1,184.55 LEODORAN FINANCIAL TRAVEL EXPENSES FOR BD PRESENT 58967 04-26-2016 895.00 NAPPA LEE NAPPA JUNE CONF 58968 04-26-2016 18.99 NEWEGG.COM SUPPLIES 58969 04-26-2016 862.00 RELIABLE PLUMB & HEAT COMPANY EMERGENCY REPAIR PIPE LEAK 58970 04-26-2016 434.20 ROGARDS COPY PAPER 58971 04-26-2016 5,154.24 SIRIUS Computer Solutions VMWARE MAINT 58972 04-26-2016 231.29 STAPLES ADVANTAGE OFFICE SUPPLIES

04-26-2016 STAPLES ADVANTAGE OFFICE SUPPLIES 58973 04-26-2016 2,750.00 SUNGARD AVAILABILITY SERVICES JUN 2016 BRS 58974 04-26-2016 15.90 TRUE VALUE GENERAL HARDWARE 58975 04-26-2016 107.42 UNITED PARCEL SERVICE FREIGHT APR11-15 58976 04-26-2016 1,142.95 VERIZON WIRELESS MAR16-APR15 2016 PHONE SVC 58977 04-26-2016 4,500.00 ZAHN GOVERNMENTAL SOLUTIONS MAR 2016 CONSULTING SVC 58978 04-28-2016 1.40 SUMMARY PAYMENT MID# 53138 INS PREM REFUND 58979 04-28-2016 10,740.00 BLOOMBERG FINANCE L.P. APR18-JUN17 2016 TERMINAL 58980 04-28-2016 2,843.75 ELERT & ASSOCIATES NETWORKING PHYSICAL SECURITY AUDIT 58981 04-28-2016 552.23 ILLINOIS STATE DISBURSEMENTS 12-D-1914 YOUNG PYRL DEDUCTION 58982 04-28-2016 175.24 ILLINOIS STATE DISBURSEMENTS 96-D-490 JOHNSON PYRL DEDUCTIO 58983 04-28-2016 17.00 TROPHYTIME NAME TAGS (HOUCH & WESLEY)

Exhibit 12b



58984 04-28-2016 130.00 VITAL SIGNS 2 SIGNS (ILLINOIS & CHICAGO) 58985 05-02-2016 16,761.48 AFSCME CHAPTER 31 ANNUITANT DEDUCTION 58986 05-02-2016 4,228.50 AMERICAN UNITED LIFE INS. ANNUITANT DEDUCTION 58987 05-02-2016 7,237.09 BLACK HAWK COLLEGE ANNUITANT DEDUCTION 58988 05-02-2016 2,859,074.12 A & R SHARED SERVICE CENTER ANNUITANT DEDUCTION 58989 05-02-2016 3,064.00 COOK CO COLLEGE TEACHERS UNION ANNUITANT DEDUCTION 58990 05-02-2016 39.80 COUNTRY ARBORS NURSERY INC GROUNDS MAINT 58991 05-02-2016 249.19 JOHN H. ENGSTROM ENGSTROM-APR21 INVST & BD MTG 58992 05-02-2016 399.21 ILLINOIS VALLEY COMM COLLEGE ANNUITANT DEDUCTION 58993 05-02-2016 1,224.73 INTERNAL REVENUE SERVICE XXX-XX-0383 MAY 2016 PMT 58994 05-02-2016 1,000.00 INTERNAL REVENUE SERVICE XXX-XX-7143 MAY 2016 PMT 58995 05-02-2016 5,554.76 INTERNAL REVENUE SERVICE XXX-XX-5594 MAY 2016 PMT 58996 05-02-2016 92.08 UNITED STATES TREASURY XXX-XX-5913 MAY 2016 PMT 58997 05-02-2016 4,949.00 ISEA/RETIREES ANNUITANT DEDUCTION 58998 05-02-2016 763.92 PAUL R.T. JOHNSON JOHNSON-MAR14-15 RFP INTERVIEW

05-02-2016 PAUL R.T. JOHNSON JOHNSON-MAR10-11 BD MTG & INVS 58999 05-02-2016 1,668.37 LAKE LAND COLLEGE ANNUITANT DEDUCTION 59000 05-02-2016 3.30 MCHENRY COMM COLLEGE INS ANNUITANT DEDUCTION 59001 05-02-2016 90.00 MICHAELS CATERING APR 29 CLAIMS PANEL BOX MEALS 59002 05-02-2016 725.95 NEWEGG.COM SUPPLIES

05-02-2016 NEWEGG.COM #6249-50 MONITORS05-02-2016 NEWEGG.COM POWER STRIPS FOR NEW RACK

59003 05-02-2016 895.73 NORTHERN ILLINOIS UNIVERSITY APR 13 ROOM RENTAL & BOX LUNCH 59004 05-02-2016 4,928.63 PARKLAND COLLEGE ANNUITANT DEDUCTION 59005 05-02-2016 2,772.45 RICOH USA INC APR 2016 COMP RM COLOR PRINTER

05-02-2016 RICOH USA INC APR 2016 COMP RM B/W PRINTER 59006 05-02-2016 1,150.00 TOMASINE ROMANO XXX-XX-4355 MAY 2016 PMT 59007 05-02-2016 25,548.79 STATE UNIV. ANNUITANTS ASSN. ANNUITANT DEDUCTION 59008 05-02-2016 2,145.00 TRITON COLLEGE ANNUITANT DEDUCTION 59009 05-02-2016 389.00 UNIVERSITY PROFESSIONALS IL. ANNUITANT DEDUCTION 59010 05-02-2016 3,638.00 UNIVER OF IL CAMPUS RECREATION ANNUITANT DEDUCTION 59011 05-02-2016 29.00 UPCLOSE PRINTING BUSINESS CARDS - JIM DROZDZ 59012 05-02-2016 605.00 UPI-COPE ANNUITANT DEDUCTION 59013 05-02-2016 2,992.99 UNITED STATE TREASURY XXX-XX-8400 MAY 2016 PMT 59014 05-02-2016 50.00 US TREASURY XXX-XX-1467 MAY 2016 PMT 59015 05-02-2016 166.67 LEONARD GIANNONE STALEDATE CHECK 59016 05-05-2016 305.54 AMSTERDAM PRINTING & LITHO OFFICE SUPPLIES (PENS) 59017 05-05-2016 1,320.00 CHAMPAIGN TELEPHONE CO TRACER (TELEPHONE SOFTWARE) 59018 05-05-2016 204.00 DAVIS ELECTRIC ELECTRICAL CONTRACTING 59020 05-05-2016 321.00 HERRIOTT'S COFFEE COMPANY COFFEE SUPPLIES 59021 05-05-2016 125.00 INSTITUTIONAL INVESTOR JOURNAL LEWIS-APR27-29 ROUNDTABLE 59022 05-05-2016 7,726.00 JACKSON WALKER L.L.P. MAR 2016 GEN INVST FAIRVIEW

05-05-2016 JACKSON WALKER L.L.P. MAR 2016 PAAMCO LEGAL FEES 59023 05-05-2016 4,000.00 JANET JONES & ASSOCIATES, INC. APR 2016 LOBBY SVC 59024 05-05-2016 633.60 RICOH USA INC MAY2016-MAY2017 MAINT 59025 05-05-2016 410.15 STAPLES ADVANTAGE OFFICE SUPPLIES

05-05-2016 STAPLES ADVANTAGE OFFICE SUPPLIES05-05-2016 STAPLES ADVANTAGE OFFICE SUPPLIES

59026 05-05-2016 1,235.50 TENSION ENVELOPE CORPORATION #10 WINDOW ENVELOPES 59027 05-05-2016 537.00 THOMSON REUTERS LEGAL BOOKS 59028 05-05-2016 4,742.40 THOMSON TAX & ACCOUNTING FY17 RIA PEN&BFT EXPERT 59029 05-05-2016 150.68 UNITED PARCEL SERVICE APR 18-22 FREIGHT 59030 05-05-2016 485.00 WOLTERS KLUWER LAW & BUSINESS 2016 PENSION ANSWER BOOK 59031 05-10-2016 29.96 AWESOME MACHINES SAVOY BUILDING MAINT (SYN OIL) 59032 05-10-2016 158.00 CHAMPAIGN DO-IT-BEST HARDWARE GENERAL HARDWARE 59033 05-10-2016 770.00 GOV FIN OFFICERS ASSN MEMBERSHIP FEE 59034 05-10-2016 54.35 ILLINOIS AMERICAN WATER MAY 2016 FIRE SVC 59035 05-10-2016 188.75 ILLINOIS PRESS ASSOCIATION APR 2016 READING FEE & CLIPS 59036 05-10-2016 482.65 NEWEGG.COM SUPPLIES

Exhibit 12b



59036 05-10-2016 482.65 NEWEGG.COM SUPPLIES 59037 05-10-2016 1,182.96 NORTHERN ILLINOIS UNIVERSITY MAR 2016 NAPERV PHONE SVC

05-10-2016 NORTHERN ILLINOIS UNIVERSITY APR 2016 NAPERV PHONE SVC05-10-2016 NORTHERN ILLINOIS UNIVERSITY MAY 2016 RENT NAPERVILLE

59038 05-10-2016 145.95 PLANTS ETC APR 2016 PLANT SVC 59040 05-10-2016 46.72 PROPIO LANGUAGE SERVICES APR 2016 INTERP SVC 59041 05-10-2016 1,119.03 QUICKSILVER MAILING SERVICES APR 16-30 2016 FLATS POSTAGE

05-10-2016 QUICKSILVER MAILING SERVICES APR 2016 POSTAGE (PRESORT) 59042 05-10-2016 22.50 TEPPER ELECTRIC SUPPLY CO. ELECTRICAL SUPPLIES 59043 05-10-2016 163.99 TRUE VALUE GENERAL HARDWARE 59044 05-10-2016 71.59 UNITED PARCEL SERVICE FREIGHT APR 25-29 59045 05-10-2016 279.95 URBANA/CHAMPAIGN SAN DIST MAR 15-APR 15 2016 SEWER 59046 05-10-2016 463.00 CISCO WEBEX, LLC APR 2016 VIDEO CONF 59047 05-10-2016 2,750.00 WORKSRIGHT SOFTWARE, INC. MAY 2016-17 MAIL PRESORT SFTWR 59048 05-12-2016 170.00 SUMMARY PAYMENT PRAKASH V. SURS 14 CH 14511 59049 05-12-2016 186.53 AFLAC STAFF PYRL DEDUCTION 59050 05-12-2016 5,768.01 AMEREN ILLINOIS APR 2016 ELECTRIC SVC 59051 05-12-2016 215.81 AREA DISPOSAL SERVICE, INC. APR 2016 TRASH SVC 59052 05-12-2016 1,430.00 BEYONDTRUST SOFTWARE, INC. RETINA SCANNER MAINT 59053 05-12-2016 60.00 BRIGHT START COLLEGE SAVINGS WALKER PYRL DEDUCTION 59054 05-12-2016 146.50 C D S OFFICE TECHNOLOGIES APR 2016 RETM COPIER SVC

05-12-2016 C D S OFFICE TECHNOLOGIES APR 2016 CALL CNTR COPIER SVC 59055 05-12-2016 2,358.87 A & R SHARED SERVICES STAFF PYRL DEDUCTION 59056 05-12-2016 7,229.00 DEF COMP PLAN FUND STAFF PYRL DEDUCTION

05-12-2016 DEF COMP PLAN FUND ROTH STAFF PYRL DEDUCTION 59057 05-12-2016 114,302.66 DEPT OF CENTRAL MANAGEMENT STAFF PYRL DEDUCTION 59058 05-12-2016 13,332.75 A & R SHARED SERVICE CENTER STAFF PYRL DEDUCTION 59059 05-12-2016 2,271.05 A & R SHARED SERVICE CENTER STAFF PYRL DEDUCTION 59060 05-12-2016 173.77 COMCAST CABLE & INTERNET MAY 2016 TV SVC

05-12-2016 COMCAST CABLE & INTERNET MAY 2016 INTERNET SVC 59061 05-12-2016 2,460.00 COUNTRY FAIR SELF STORAGE FY17 TAPE STORAGE 59062 05-12-2016 120.00 DEPARTMENT OF CONSUMER AFFAIRS TECHOLARN CPA RENEWAL 125856 59063 05-12-2016 203.00 DIAMOND DATA SUPPLIES

05-12-2016 DIAMOND DATA SUPPLIES 59064 05-12-2016 291.21 JOHN H. ENGSTROM ENGSTROM-MAY3 SUAA LEGISLATIVE 59065 05-12-2016 16,118.00 GABRIEL,ROEDER,SMITH & CO. APR 2016 RET ACTU AUDIT 415 59066 05-12-2016 552.23 ILLINOIS STATE DISBURSEMENTS 12-D-1914 YOUNG PYRL DEDUCTION 59067 05-12-2016 558.00 ILLINOIS STATE DISBURSEMENTS 14-D-53 DUNCAN PYRL DEDUCTION 59068 05-12-2016 175.24 ILLINOIS STATE DISBURSEMENTS 96-D-490 JOHNSON PYRL DEDUCTIO 59069 05-12-2016 2,188.34 PAETEC APR4-MAY3 2016 PHONE SVC 59070 05-12-2016 11,551.03 PRI ASSOCIATION PRI ANNUAL MBRSHP (2016-2017) 59071 05-12-2016 874.75 ROGARDS COPY PAPER 59072 05-12-2016 107.44 SECOND EXECUTIVE PARK APR 2016 GEESE CONTROL

05-12-2016 SECOND EXECUTIVE PARK APR 2016 TRIMMING/WEEDING 59073 05-12-2016 12,027.50 SIRIUS Computer Solutions CISCO MAINTENANCE 59074 05-12-2016 714.00 TVL INC. WISE TRACK MAINTENANCE 59075 05-13-2016 2,352.70 UNIVERSITY OF ILLINOIS @00873227 APR 2016 CARPOOL 59076 05-13-2016 17.00 UNIVERSITY OF ILLINOIS HAYWARD PYRL DEDUCTION 59077 05-17-2016 100.00 SUMMARY PAYMENT PRESENTER FOR 2016 BENEFITS FA 59078 05-17-2016 16.05 SUMMARY PAYMENT MID#1176493 MILEAGE-IND MED EX 59079 05-17-2016 39.00 SUMMARY PAYMENT MID#1032569 INS PREM REFUND 59080 05-17-2016 2.50 AMERICAN MESSAGING APR27 2016 PAGER SVC 59081 05-17-2016 200.00 AREA WIDE REPORTING SERVICE APR29 CLAIMS PANEL MTG ATTENDA 59082 05-17-2016 1,400.00 BRADFIELDS COMP SUPPLY #6257 PROJECTOR EPSON 580BF

05-17-2016 BRADFIELDS COMP SUPPLY INSTALLATION FOR PROJECTOR 59083 05-17-2016 14,466.34 CA, INC. CA 2E FOR ISERIES 400 59084 05-17-2016 83.46 C D S OFFICE TECHNOLOGIES MAY 2016 ACCTNG COPIER 59085 05-17-2016 5,077.11 EXPRESS SERVICES, INC. COOK APR4-APR8 2016

05-17-2016 EXPRESS SERVICES, INC. COOK APR11-APR15 2016

Exhibit 12b



59085 05-17-2016 5,077.11 EXPRESS SERVICES, INC. COOK/BRADFORD APR18-APR22 201605-17-2016 EXPRESS SERVICES, INC. COOK/BRADFORD APR25-APR29 2016

59086 05-17-2016 2,342.50 HONEYWELL INC. JUN 2016 TEMP CONTROL 59087 05-17-2016 315.00 ILLINOIS CPA SOCIETY 22684 FILLINGHAM MBRSHP 59088 05-17-2016 8,000.00 ILLINOIS STATE TREASURER FY17 COMPLIANCE FEE 59089 05-17-2016 73.58 JACKSON-HIRSH INC LAMINATION 9X11.5 (2) 59090 05-17-2016 779.73 NEWEGG.COM SUPPLIES

05-17-2016 NEWEGG.COM SUPPLIES05-17-2016 NEWEGG.COM SUPPLIES05-17-2016 NEWEGG.COM #6251-6252 MONITORS05-17-2016 NEWEGG.COM SUPPLIES

59091 05-17-2016 944.00 THE NORTHERN TRUST COMPANY APR21 2016 BD MTG CATERING 59092 05-17-2016 128,105.00 PARAMETRIC CLIFTON Q1 2016 INVST MGMT FEES 59093 05-17-2016 905.26 POTTER ELECTRIC SERVICE COMPUTER ROOM ELECTRICAL REPAI 59094 05-17-2016 925.00 RAYMOND J DENOYER ENHANCE TO TIMETRADE NOTIFIER 59095 05-17-2016 11,000.00 RESERVE ACCOUNT MAY 2016 POSTAGE 59096 05-17-2016 893.75 RICHARD S. GOLDBERG, M.D., LTD MEDICAL EVAL-#1176493 EDWARDS 59097 05-17-2016 245.70 SECOND EXECUTIVE PARK MAY 2016 MOWING FEE 59098 05-17-2016 260.00 SHRED-IT USA MAY 2016 SHREDDING SVC 59099 05-17-2016 2,307.66 SPOC LLC MAY 2016 PHONE SVC 59100 05-17-2016 800.43 STAPLES ADVANTAGE OFFICE SUPPLIES

05-17-2016 STAPLES ADVANTAGE OFFICE SUPPLIES05-17-2016 STAPLES ADVANTAGE OFFICE SUPPLIES05-17-2016 STAPLES ADVANTAGE OFFICE SUPPLIES05-17-2016 STAPLES ADVANTAGE OFFICE SUPPLIES05-17-2016 STAPLES ADVANTAGE OFFICE SUPPLIES05-17-2016 STAPLES ADVANTAGE OFFICE SUPPLIES

59101 05-17-2016 500.00 UNIVERSITY OF ILLINOIS @00873227 CARPOOL VEHICLE REPA 59102 05-17-2016 153.16 UNITED PARCEL SERVICE MAY2-7 2016 FREIGHT 59103 05-17-2016 4,116.00 LARRY W JANOWSKI STALEDATE CHECK 59104 05-19-2016 100.00 SUMMARY PAYMENT HLTH&BNFTS FAIR-PRSNT & SPPLS 59105 05-19-2016 1,725.00 CFA INSTITUTE 202616 POLLITT-CFA MEMBERSHIP

05-19-2016 CFA INSTITUTE 434623 DELORIEA-CFA MEMBERSHIP05-19-2016 CFA INSTITUTE 960908 WESLEY-CFA MEMBERSHIP05-19-2016 CFA INSTITUTE 796203 WILLOUGHBY-CFA MBRSHP

59106 05-19-2016 995.00 CLEVERBRIDGE AG LANSWEEPER ANNUAL MAINT 59107 05-19-2016 3,307.80 DATA IMAGING SUPPLIES PRINTER SUPPLIES

05-19-2016 DATA IMAGING SUPPLIES PRINTER SUPPLIES-NAPERVILLE 59108 05-19-2016 40.00 BRENDA DUNN DUNN-MAY10 EMERGENCY BD MTG 59109 05-19-2016 210.00 M & S PEST CONTROL MAY 2016 SVC & SPRING EXT TRMT 59110 05-19-2016 833.43 QUICKSILVER MAILING SERVICES MAY1-15 2016 FLATS POSTAGE 59111 05-19-2016 994.17 THOMSON WEST APR 2016 LEGAL SUBSCRIPTION 59112 05-19-2016 504.03 WATTS COPY SYSTEMS ADMIN COPIER SVC 59113 05-24-2016 59.89 C D S OFFICE TECHNOLOGIES FRONTDESK COPIER SVC 59114 05-24-2016 389.56 ILLINOIS AMERICAN WATER APR16-MAY16 WATER SVC 59115 05-24-2016 545.63 NEWEGG.COM APC CABLE (2)

05-24-2016 NEWEGG.COM #6253-56 MONITORS (ACER) (4)05-24-2016 NEWEGG.COM CABLES-DISPLAYPORT TO HDMI (8)

59116 05-24-2016 1,438.45 NORTHERN ILLINOIS UNIVERSITY APR19 SEM ROOM & FOOD 59117 05-24-2016 7,120.28 SCHNEIDER ELECTRIC IT USA, INC MAINT CONTRACT FOR UPS 59118 05-24-2016 348.00 SOFTWARE HARDWARE INTEGRATION POWER DISTRIBUTION STRIP (2) 59119 05-24-2016 120.76 UNITED PARCEL SERVICE MAY9-13 FREIGHT 59120 05-24-2016 100.00 WINDOW GENIE OF CHAMPAIGN WINDOW FILM INSTALLATION 59121 05-24-2016 542.20 MARIANNE HUTCHERSON STALEDATE CHECK 59122 05-24-2016 24.41 CAROLYN MOODY STALEDATE CHECK 59123 05-24-2016 9,693.88 ESTATE OF JUDITH CATES JUDITH CATES

05-24-2016 ESTATE OF JUDITH CATES JUDITH CATES 59124 05-26-2016 186.53 AFLAC STAFF PYRL DEDUCTION 59125 05-26-2016 1,069.68 AT&T MAY16-JUN15 2016 PHONE SVC

Exhibit 12b



59126 05-26-2016 737.00 A TO Z PAINTING PAINT OFFICE C-103 59127 05-26-2016 60.00 BRIGHT START COLLEGE SAVINGS WALKER PYRL DEDUCTION 59128 05-26-2016 1,243.00 COMMUNICATION REVOLVING FUND T2222476 APR 2016 ICN INTERNET

05-26-2016 COMMUNICATION REVOLVING FUND T6939999 APR 2016 INS CONNECTI 59129 05-26-2016 2,358.87 A & R SHARED SERVICES STAFF PYRL DEDUCTION 59130 05-26-2016 7,229.00 DEF COMP PLAN FUND STAFF PYRL DEDUCTION

05-26-2016 DEF COMP PLAN FUND ROTH STAFF PYRL DEDUCTION 59131 05-26-2016 483.58 STATISTICAL SERVICES REVOLVING S6930000 APR 2016 CMS FUNDS 59132 05-26-2016 114,302.66 DEPT OF CENTRAL MANAGEMENT STAFF PYRL DEDUCTION 59133 05-26-2016 13,332.75 A & R SHARED SERVICE CENTER STAFF PYRL DEDUCTION 59134 05-26-2016 2,271.05 A & R SHARED SERVICE CENTER STAFF PYRL DEDUCTION 59135 05-26-2016 17.90 I.D.E.S. BENEFIT REF 59136 05-26-2016 321.46 ILLINOIS STATE DISBURSEMENTS 12-D-1914 YOUNG PYRL DEDUCTION 59137 05-26-2016 558.00 ILLINOIS STATE DISBURSEMENTS 14-D-53 DUNCAN PYRL DEDUCTION 59138 05-26-2016 175.24 ILLINOIS STATE DISBURSEMENTS 96-D-490 JOHNSON PYRL DEDUCTIO 59139 05-26-2016 550.00 MAYER BROWN LLP APR 2016 14463079 RECURRING SV 59140 05-26-2016 237.92 STAPLES ADVANTAGE OFFICE SUPPLIES 59141 05-26-2016 2,777.50 SUNGARD AVAILABILITY SERVICES JUL 2016 BRS SVC 59142 05-26-2016 17.00 UNIVERSITY OF ILLINOIS HAYWARD PYRL DEDUCTION 59143 05-26-2016 1,146.59 VERIZON WIRELESS APR16-MAY15 2016 PHONE SVC 59144 06-01-2016 173.07 SUMMARY PAYMENT MID#1174207 REFUND OF OVP 59145 06-01-2016 16,516.39 AFSCME CHAPTER 31 ANNUITANT DEDUCTION 59146 06-01-2016 4,228.50 AMERICAN UNITED LIFE INS. ANNUITANT DEDUCTION 59147 06-01-2016 7,443.16 BLACK HAWK COLLEGE ANNUITANT DEDUCTION 59148 06-01-2016 24.00 BREEZE COURIER MAY 6 LEGAL PUBLICATION 59149 06-01-2016 2,861,802.42 A & R SHARED SERVICE CENTER ANNUITANT DEDUCTION 59150 06-01-2016 3,052.00 COOK CO COLLEGE TEACHERS UNION ANNUITANT DEDUCTION 59151 06-01-2016 110.00 HERRIOTT'S COFFEE COMPANY COFFEE SUPPLIES 59152 06-01-2016 399.21 ILLINOIS VALLEY COMM COLLEGE ANNUITANT DEDUCTION 59153 06-01-2016 1,224.73 INTERNAL REVENUE SERVICE XXX-XX-0383 JUN 2016 PMT 59154 06-01-2016 1,000.00 INTERNAL REVENUE SERVICE XXX-XX-7143 JUN 2016 PMT 59155 06-01-2016 5,554.76 INTERNAL REVENUE SERVICE XXX-XX-5594 JUN 2016 PMT 59156 06-01-2016 92.08 UNITED STATES TREASURY XXX-XX-5913 JUN 2016 PMT 59157 06-01-2016 4,927.00 ISEA/RETIREES ANNUITANT DEDUCTION 59158 06-01-2016 1,646.42 LAKE LAND COLLEGE ANNUITANT DEDUCTION 59159 06-01-2016 3.30 MCHENRY COMM COLLEGE INS ANNUITANT DEDUCTION 59160 06-01-2016 4,951.61 PARKLAND COLLEGE ANNUITANT DEDUCTION 59161 06-01-2016 1,150.00 TOMASINE ROMANO ANNUITANT DEDUCTION 59162 06-01-2016 25,575.38 STATE UNIV. ANNUITANTS ASSN. ANNUITANT DEDUCTION 59163 06-01-2016 1,885.00 TRITON COLLEGE ANNUITANT DEDUCTION 59164 06-01-2016 391.00 UNIVERSITY PROFESSIONALS IL. ANNUITANT DEDUCTION 59165 06-01-2016 3,638.00 UNIVER OF IL CAMPUS RECREATION ANNUITANT DEDUCTION 59166 06-01-2016 612.00 UPI-COPE ANNUITANT DEDUCTION 59167 06-01-2016 54.05 UNITED PARCEL SERVICE FREIGHT MAY13-17 59168 06-01-2016 2,992.99 UNITED STATE TREASURY XXX-XX-8400 JUN 2016 PMT 59169 06-01-2016 212.20 UNITED STATES POSTAL SERVICE NAPERVILLE POSTAGE 59170 06-01-2016 50.00 US TREASURY XXX-XX-1467 JUN 2016 PMT 59171 06-02-2016 9,962.18 BURKE BURNS & PINELLI, LTD APR 2016 LEGAL SVC 59172 06-02-2016 9,889.00 JACKSON WALKER L.L.P. APR 2016 LEGAL-BROOKFIELD STRA

06-02-2016 JACKSON WALKER L.L.P. APR 2016 LEGAL-BROOKFIELD STRA06-02-2016 JACKSON WALKER L.L.P. APR 2016 LEGAL-PIMCO COMM ALPH06-02-2016 JACKSON WALKER L.L.P. APR 2016 LEGAL-INVESCO RISK06-02-2016 JACKSON WALKER L.L.P. APR 2016 LEGAL-MULLER&MONROE06-02-2016 JACKSON WALKER L.L.P. APR 2016 LEGAL-ADAMS ST GLOBAL

59173 06-02-2016 210.00 PITNEY BOWES INC. APR1-29 2016 POSTAGE RENTAL 59174 06-02-2016 4,828.39 RR DONNELLEY ANNUITY CK FORMS (4 CASES)

06-02-2016 RR DONNELLEY N11EZ FORMS (25 CASES) 59175 06-02-2016 33,000.00 SEGAL APR 2016 ACTUARIAL AUDIT SVC 59176 06-02-2016 331.51 STAPLES ADVANTAGE OFFICE SUPPLIES

Exhibit 12b



59176 06-02-2016 331.51 STAPLES ADVANTAGE OFFICE SUPPLIES06-02-2016 STAPLES ADVANTAGE OFFICE SUPPLIES06-02-2016 STAPLES ADVANTAGE OFFICE SUPPLIES

59177 06-02-2016 87.40 UNITED PARCEL SERVICE FREIGHT MAY23-27 59178 06-07-2016 159.99 ACE HARDWARE 665 BUILDING MAINTENANCE 59179 06-07-2016 17,713.77 CHAMPAIGN TELEPHONE CO FY 17 VOICEMAIL SYSTEM

06-07-2016 CHAMPAIGN TELEPHONE CO NEW WIRELESS NETWORK 59180 06-07-2016 2,910.86 EXPRESS SERVICES, INC. COOK-MAR28-APR1

06-07-2016 EXPRESS SERVICES, INC. COOK&BRADFORD-MAY2-6 59181 06-07-2016 156.50 ILLINOIS PRESS ASSOCIATION MAY 2016 READING FEE & CLIPS 59182 06-07-2016 4,000.00 JANET JONES & ASSOCIATES, INC. MAY 2016 LOBBY SVC 59183 06-07-2016 31.92 NEWEGG.COM SUPPLIES 59184 06-07-2016 45.20 THE NEWS GAZETTE MAY6-REQUEST FOR PROPOSALS 59185 06-07-2016 67.84 PROPIO LANGUAGE SERVICES MAY 2016 INTERP SVC 59186 06-07-2016 110.00 RELIABLE PLUMB & HEAT COMPANY BUILDING MAINTENANCE 59187 06-07-2016 832.61 RICOH USA INC COMP RM COLOR PRINTER

06-07-2016 RICOH USA INC COMP RM B/W PRINTER 59188 06-07-2016 2,376.00 SOLARWINDS, INC. NETWORK MONITORING 59189 06-07-2016 276.29 URBANA/CHAMPAIGN SAN DIST APR15-MAY16 2016 SEWER 59190 06-09-2016 199.27 AFLAC STAFF PYRL DEDUCTION 59191 06-09-2016 60.00 BRIGHT START COLLEGE SAVINGS WALKER PYRL DEDUCTION 59192 06-09-2016 199.70 C D S OFFICE TECHNOLOGIES FRONT DESK COPIER

06-09-2016 C D S OFFICE TECHNOLOGIES ACCOUNTING COPIER06-09-2016 C D S OFFICE TECHNOLOGIES CALL CTR/PAYB COPIER

59193 06-09-2016 186.04 CHAMPAIGN DO-IT-BEST HARDWARE GENERAL HARDWARE 59194 06-09-2016 2,358.87 A & R SHARED SERVICES STAFF PYRL DEDUCTION 59195 06-09-2016 7,154.00 DEF COMP PLAN FUND STAFF PYRL DEDUCTION

06-09-2016 DEF COMP PLAN FUND ROTH STAFF PYRL DEDUCTION 59196 06-09-2016 114,302.66 DEPT OF CENTRAL MANAGEMENT STAFF PYRL DEDUCTION 59197 06-09-2016 13,332.75 A & R SHARED SERVICE CENTER STAFF PYRL DEDUCTION 59198 06-09-2016 2,273.00 A & R SHARED SERVICE CENTER STAFF PYRL DEDUCTION 59199 06-09-2016 54.35 ILLINOIS AMERICAN WATER JUN 2016 FIRE SVC 59200 06-09-2016 321.46 ILLINOIS STATE DISBURSEMENTS 12-D-1914 YOUNG PYRL DEDUCTION 59201 06-09-2016 558.00 ILLINOIS STATE DISBURSEMENTS 14-D-53 DUNCAN PYRL DEDUCTION 59202 06-09-2016 175.24 ILLINOIS STATE DISBURSEMENTS 96-D-490 JOHNSON PYRL DEDUCTIO 59203 06-09-2016 501.00 MIDWEST TELETRON TELEPHONE SUPPLIES

06-09-2016 MIDWEST TELETRON WIRELESS HEADSET 59204 06-09-2016 329.85 NEWEGG.COM SUPPLIES 59205 06-09-2016 183.19 PITNEY BOWES INC. RED INK 59206 06-09-2016 145.95 PLANTS ETC MAY 2016 PLANT SVC 59207 06-09-2016 1,568.82 QUICKSILVER MAILING SERVICES MAY 2016 POSTAGE (PRESORT)

06-09-2016 QUICKSILVER MAILING SERVICES MAY16-31 2016 FLATS POSTAGE 59208 06-09-2016 36,000.00 RESERVE ACCOUNT JUNE 2016 POSTAGE 59209 06-09-2016 890.73 ROGARDS COPY PAPER

06-09-2016 ROGARDS OFFICE SUPPLIES 59210 06-09-2016 150.00 SOFTWARE HARDWARE INTEGRATION SUPPLIES 59211 06-09-2016 93.14 STAPLES ADVANTAGE SUPPLIES 59212 06-09-2016 66.60 TEPPER ELECTRIC SUPPLY CO. ELECTRICAL SUPPLIES 59213 06-09-2016 2,801.46 UNIVERSITY OF ILLINOIS @00873227 MAY 2016 CARPOOL 59214 06-09-2016 17.00 UNIVERSITY OF ILLINOIS HAYWARD PYRL DEDUCTION 59215 06-09-2016 51.01 UNITED PARCEL SERVICE FREIGHT MAY30-JUN3 2016 59216 06-14-2016 226.95 SUMMARY PAYMENT MID#1157017-INS REFUND FEB-JUN 59217 06-14-2016 35.07 ACE HARDWARE 665 BUILDING MAINTENANCE 59218 06-14-2016 6,138.49 AMEREN ILLINOIS MAY 2016 ELECTRIC SVC 59219 06-14-2016 217.92 AREA DISPOSAL SERVICE, INC. MAY 2016 TRASH SVC 59220 06-14-2016 15,171.89 CHAMPAIGN TELEPHONE CO FY17 PHONE SYSTM HRDWR & SFTWR 59221 06-14-2016 173.77 COMCAST CABLE & INTERNET JUN 2016 TV SVC

06-14-2016 COMCAST CABLE & INTERNET JUN 2016 INTERNET SVC 59222 06-14-2016 1,000.00 ePanicbutton LLC FY17 PANIC SOFTWARE

Exhibit 12b



59223 06-14-2016 13,897.25 GABRIEL,ROEDER,SMITH & CO. MAY 2016 RETAINER & SPECIAL PR 59224 06-14-2016 2,342.50 HONEYWELL INC. JUL 2016 TEMP CONTROL (FY17) 59225 06-14-2016 2,450.00 MRC INFORMATION TECHNOLOGY INC KTM DEVELOPMENT 59226 06-14-2016 7,906.00 OLYMPIC CONTRUCTION, LLC A-140 CONF ROOM INTO 2 OFFICES 59227 06-14-2016 2,228.71 PAETEC MAY4-JUN3 2016 LONG DISTANCE 59228 06-14-2016 21.58 REND LAKE COLLEGE REFRESHMENTS FOR JUN6 SEMINAR 59229 06-14-2016 619.96 SECOND EXECUTIVE PARK FERTILIZER APPLICATION

06-14-2016 SECOND EXECUTIVE PARK MAY 2016 TRIMMING/WEEDING/FERT06-14-2016 SECOND EXECUTIVE PARK MAY 2016 GEESE CONTROL06-14-2016 SECOND EXECUTIVE PARK JUN 2016 MOWING SVC

59230 06-14-2016 13,151.20 STOCKS OFFICE FURNITURE NEW FURNITURE A-140 A&B 59231 06-14-2016 477.16 CISCO WEBEX, LLC MAY 2016 VIDEO CONF 59232 06-14-2016 800.00 CAROL R MCKAY STALEDATE CHECK 59233 06-14-2016 296.20 Christopher T Ledvina STALE DATE CHECK 59234 06-21-2016 1,920.60 SUMMARY PAYMENT MID#88645 REFUND OF OVP 59235 06-21-2016 2.50 AMERICAN MESSAGING MAY24 2016 PAGER SVC 59236 06-21-2016 53.20 C D S OFFICE TECHNOLOGIES FRONTDESK COPIER SVC 59237 06-21-2016 284.70 CG SIGNATURE EVENTS CATERING MAY4 2016 BOX LUNCHES 59238 06-21-2016 1,291.00 CHAMPAIGN TELEPHONE CO UPGRADE TO TELEPHONE ACD SYS 59239 06-21-2016 542.60 JOHN H. ENGSTROM ENGSTROM-JUN9-10 BD MTG 59240 06-21-2016 424.50 FE MORAN INC. JUL 2016-JUN 2017 ALARM (FY17)

06-21-2016 FE MORAN INC. JUL-SEPT 2016 ALARM (FY17) 59241 06-21-2016 494.25 KISCO INFORMATION SYSTEMS ANNUAL MAINT WEB REPORT (FY17) 59242 06-21-2016 2,625.00 LINKEDIN CORPORATION MAY4-AUG3 2016 RECRUITER-CORP 59243 06-21-2016 45.00 M & S PEST CONTROL JUN 2016 PEST CONTROL 59244 06-21-2016 648.10 NEWEGG.COM SUPPLIES

06-21-2016 NEWEGG.COM SUPPLIES06-21-2016 NEWEGG.COM SUPPLIES06-21-2016 NEWEGG.COM SUPPLIES

59245 06-21-2016 255.00 NORTHERN ILLINOIS UNIVERSITY JUN9 2016 ROOM RENTAL & CATERI 59246 06-21-2016 1,280.00 POSTMASTER FY 17 PO BOX FEE 59247 06-21-2016 825.70 QUICKSILVER MAILING SERVICES JUN1-15 2016 FLATS POSTAGE 59248 06-21-2016 147.69 SECOND EXECUTIVE PARK IRRIGATION SVC 59249 06-21-2016 260.00 SHRED-IT USA MAY 2016 SHREDDING SVC 59250 06-21-2016 66.67 SOUTHWEST PLASTIC BINDING CO. ADMIN BINDING SUPPLIES 59251 06-21-2016 2,302.10 SPOC LLC JUN 2016 PHONE SVC 59252 06-21-2016 542.31 STAPLES ADVANTAGE OFFICE SUPPLIES

06-21-2016 STAPLES ADVANTAGE OFFICE SUPPLIES 59253 06-21-2016 984.50 TENSION ENVELOPE CORPORATION #9 ENVELOPE (50,000) 59254 06-21-2016 1,293.54 THOMSON WEST LEGAL BOOKS

06-21-2016 THOMSON WEST MAY 2016 LEGAL SUBSCRIPTION 59255 06-21-2016 99.17 UNITED PARCEL SERVICE FREIGHT JUN6-10 2016 59256 06-21-2016 90.58 BERNDADETTE KWARCHANY STALEDATE CHECK 59257 06-23-2016 165.79 AFLAC STAFF PYRL DEDUCTION 59258 06-23-2016 60.00 BRIGHT START COLLEGE SAVINGS WALKER PYRL DEDUCTION 59259 06-23-2016 2,358.87 A & R SHARED SERVICES STAFF PYRL DEDUCTION 59260 06-23-2016 7,154.00 DEF COMP PLAN FUND STAFF PYRL DEDUCTION

06-23-2016 DEF COMP PLAN FUND ROTH STAFF PYRL DEDUCTION 59261 06-23-2016 113,136.97 DEPT OF CENTRAL MANAGEMENT ER PREMIUM PPE062016 59262 06-23-2016 13,211.50 A & R SHARED SERVICE CENTER STAFF PYRL DEDUCTION 59263 06-23-2016 2,301.66 A & R SHARED SERVICE CENTER STAFF PYRL DEDUCTION 59264 06-23-2016 321.46 ILLINOIS STATE DISBURSEMENTS 2012D0001914 YOUNG PYRL DEDUCT 59265 06-23-2016 558.00 ILLINOIS STATE DISBURSEMENTS 14-D-53 DUNCAN PYRL DEDUCTION 59266 06-23-2016 175.24 ILLINOIS STATE DISBURSEMENTS 96-D-490 JOHNSON PYRL DEDUCTIO 59267 06-23-2016 5,300.00 PARKLAND COLLEGE APR LEADERSHIP 363 TRAINING 59268 06-28-2016 255.00 AICPA 01617370 WESLEY FY17 MBRSHP DU 59269 06-28-2016 1,069.68 AT&T JUN16-JUL15 2016 PHONE SVC 59270 06-28-2016 940.00 CRAIN COMMUNICATIONS INC. RFP PE FUND - CLASSIFIED AD 59271 06-28-2016 355.00 CUPA HR FY17 MBRSHP FEE

Exhibit 12b



59272 06-28-2016 2,800.00 DOCUMENT ACCESS SYSTEMS FILENET UPGRADE 59273 06-28-2016 9,098.97 EXPRESS SERVICES, INC. COOK/BRADFORD MAY9-13

06-28-2016 EXPRESS SERVICES, INC. COOK/BRADFORD MAY16-2006-28-2016 EXPRESS SERVICES, INC. COOK/BRADFORD MAY23-2706-28-2016 EXPRESS SERVICES, INC. COOK/BRADFORD MAY30-JUN306-28-2016 EXPRESS SERVICES, INC. COOK/BRADFORD JUN6-10

59274 06-28-2016 80.00 HERRIOTT'S COFFEE COMPANY COFFEE SUPPLIES 59275 06-28-2016 369.18 ILLINOIS AMERICAN WATER MAY17-JUN15 2016 WATER 59276 06-28-2016 225.00 IPMA-HR DUNN DEVELOPING COMPETENCIES 59277 06-28-2016 20,166.73 MRC INFORMATION TECHNOLOGY INC KTM DEVELOPMENT

06-28-2016 MRC INFORMATION TECHNOLOGY INC FY17 KOFAX MAINT 59278 06-28-2016 19,494.00 MSCI ESG RESEARCH INC. SRI IRAN DATA FEED ANNUAL FY17 59279 06-28-2016 456.69 RICOH USA INC COMPUTER ROOM COLOR PRINTER

06-28-2016 RICOH USA INC COMPUTER ROOM B/W PRINTER FY17 59280 06-28-2016 231.96 ROGARDS COPY PAPER 59281 06-28-2016 43.81 UNITED PARCEL SERVICE FREIGHT JUN13-17 59282 06-28-2016 1,146.59 VERIZON WIRELESS MAY16-JUN15 2016 PHONE SVC 59283 06-28-2016 800.00 KAY H VIRGINIA STALEDATE CHECK

10,976,978.60

Exhibit 12b

STATE UNIV RETIREMENT SYSTEM Page 107-05-2016

Payment date from: 4-01-2016 Payment date to: 6-30-2016

NTAP ElectronicACCOUNTS PAYABLE

Payment Payment Amount Payee DescriptionReference Date Vendor Paid

0001050 04-01-2016 ADAMSSTREE 106,250.00 ADAMS STREET PARTNERS, LP Q1 2016 INVST M0001051 04-01-2016 BLISSARDD 12.31 DAWN BLISSARD BLISSARD-POST O0001052 04-01-2016 CITYCOLLEG 335,744.14 CITY COLLEGES OF CHICAGO ANNUITANT DEDUC0001053 04-01-2016 ROCKSTEVEN 388.40 STEVEN ROCK ROCK-MAR10-11 B0001054 04-01-2016 VASQUEZANT 325.90 ANTONIO A. VASQUEZ VASQUEZ-MAR10-10001055 04-04-2016 KUSHNERALL 795.95 ALLISON KUSHNER KUSHNER-MAR21-20001056 04-04-2016 LEWISBRYAN 84.76 WILBERT BRYAN LEWIS LEWIS-FEDEX & W0001057 04-06-2016 ICCTA 600.00 ICCTA APR 2016 SUBLEA0001058 04-06-2016 MARCO 12,062.50 MARCO CONSULTING GROUP Q1 2016 PROXY V0001059 04-06-2016 RAMOSALEX 428.20 ALEX RAMOS RAMOS-AIRFARE J0001060 04-06-2016 WILLOUGHBY 226.32 SHANE WILLOUGHBY WILLOUGHBY-MAR30001061 04-11-2016 WILLOUGHBY 450.70 SHANE WILLOUGHBY WILLOUGHBY-AIRF0001062 04-13-2016 BARTELLJEN 267.72 JENNIFER BARTELL BARTELL-APR8 RE0001063 04-13-2016 BLISSARDD 16.42 DAWN BLISSARD BLISSARD-POSTOF0001064 04-13-2016 DROZDZ JAM 67.39 JAMES DROZDZ DROZDZ-APR5 IL 0001065 04-13-2016 EVANSJIM 117.10 JIM EVANS EVANS-MAR31-APR0001066 04-13-2016 FILLINGHAM 511.20 LOU ANN FILLINGHAM FILLINGHAM-AIRF0001067 04-13-2016 FITCHMARSH 222.72 MARSHA FITCH FITCH-APR8 RECI0001068 04-13-2016 JOHNSONM 134.10 MARLYS M. JOHNSON JOHNSON-MAR31-A0001069 04-13-2016 LIEBANGIE 222.72 ANGIE LIEB LIEB-APR8 RECIP0001070 04-13-2016 ORMONDBRAN 43.42 BRANDON ORMOND ORMOND-MAR15-AP0001071 04-13-2016 STRATEGICG 205,002.29 STRATEGIC GLOBAL ADVISORS Q1 2016 INVST M0001072 04-15-2016 AMMONSAARO 1,797.83 AARON AMMONS AMMONS-CII CONF0001073 04-15-2016 Ativo 152,830.71 ATIVO CAPITAL MANAGEMENT Q1 2016 INVST M0001074 04-15-2016 GIERTZFRED 1,761.17 J. FRED GIERTZ GIERTZ-MAR31-AP0001075 04-15-2016 LEWISBRYAN 754.72 WILBERT BRYAN LEWIS LEWIS-MAR21-23 0001076 04-15-2016 PUGHCAPITA 60,642.86 PUGH CAPITAL MANAGEMENT Q1 2016 INVST M0001077 04-18-2016 KUSHNERALL 338.19 ALLISON KUSHNER KUSHNER-APR8 CO0001078 04-18-2016 NEPC 12,500.00 NEPC, LLC Q1 2016 PRIVATE0001079 04-18-2016 PIEDMONTIN 168,185.37 PIEDMONT INVESTMENT ADVISORS Q1 2016 INVST M0001080 04-18-2016 SMITHGRAHA 42,380.00 SMITH GRAHAM & CO. Q1 2016 INVST M0001081 04-18-2016 WILLOUGHBY 649.59 SHANE WILLOUGHBY WILLOUGHBY-APR10001082 04-20-2016 CHICAGOEQ 140,037.24 CHICAGO EQUITY PARTNERS LLC Q1 2016 INVST M0001083 04-20-2016 DUNCANJO 534.50 JOSEPH DUNCAN DUNCAN-APR13-150001084 04-20-2016 EARNESTPAR 162,958.41 EARNEST PARTNERS, LLC Q1 2016 INVST M0001085 04-20-2016 GREENBIANC 129.95 BIANCA T GREEN GREEN- APR8 REC0001086 04-20-2016 HOLLANDCAP 67,850.50 HOLLAND CAPITAL MANAGEMENT LLC Q1 2016 INVST M0001087 04-20-2016 LMCAPGRP 68,117.92 LM CAPITAL GROUP Q1 2016 INVST M0001088 04-20-2016 MATTHEWS 359.99 ANDREW MATTHEWS MATTHEWS-APR14-0001089 04-20-2016 MESIROWFIN 149,326.58 MESIROW FINANCIAL INVESTMENT Q1 2016 INVST M0001090 04-20-2016 PACIFICINV 838,407.25 PACIFIC INVESTMENT CO. Q1 2016 INVST M0001091 04-20-2016 POLLITTKIM 300.46 KIM POLLITT POLLITT-APR11-10001092 04-20-2016 WILLOUGHBY 733.61 SHANE WILLOUGHBY WILLOUGHBY-APR50001093 04-22-2016 GLOBEFLEX 568,697.95 GLOBEFLEX CAPITAL, L.P. Q1 2016 INVST M0001094 04-22-2016 GREENBIANC 96.98 BIANCA T GREEN GREEN-APR5 ETHI0001095 04-22-2016 LEEALBERT 14.50 ALBERT LEE LEE-APR8 RECIP 0001096 04-22-2016 RHUMBLINE 33,063.25 RHUMBLINE ADVISERS Q1 2016 INVST M0001097 04-22-2016 WINFREYAND 131.79 ANDREA WINFREY WINFREY-APR12-10001098 04-25-2016 CHANNINGCA 64,881.92 CHANNING CAPITAL MANAGEMENT Q1 2016 INVST M0001099 04-25-2016 GH&A 48,484.53 GARCIA HAMILTON & ASSOC Q1 2016 INVST M0001100 04-25-2016 LEEALBERT 670.70 ALBERT LEE LEE-AIRFARE JUN0001101 04-27-2016 BAUERCYNTH 198.50 CYNTHIA A. BAUER BAUER-APR19-21 0001102 04-27-2016 PROGINVEST 889,670.82 PROGRESS INVESTMENT MGMT CO. Q1 2016 INVST M0001103 04-29-2016 BLISSARDD 20.52 DAWN BLISSARD BLISSARD-APR12-0001104 04-29-2016 CLARIONCRA 339,102.00 CBRE CLARION REAL ESTATE SEC. Q1 2016 INVST M0001105 04-29-2016 CULLOTTAMO 218.74 MONIQUE CULLOTTA CULLOTTA-APR21 0001106 04-29-2016 DELORIEABR 224.24 BRIAN DELORIEA DELORIEA-APR20-0001107 04-29-2016 DROZDZ JAM 488.72 JAMES DROZDZ DROZDZ-APR12-13

Exhibit 12b





0001108 04-29-2016 DUNCANJO 266.24 JOSEPH DUNCAN DUNCAN-APR20-210001109 04-29-2016 JOHNSONM 198.50 MARLYS M. JOHNSON JOHNSON-APR19-20001110 04-29-2016 NEWCENTURY 55,259.78 NEW CENTURY ADVISORS Q1 2016 INVST M0001111 04-29-2016 POLLITTKIM 822.57 KIM POLLITT POLLITT-APR20-20001112 04-29-2016 RAMOSALEX 224.24 ALEX RAMOS RAMOS-APR20-21 0001113 04-29-2016 WALKERP 37.00 PHYLLIS WALKER WALKER-APR21 BD0001114 04-29-2016 WESLEYDOUG 320.24 DOUG WESLEY WESLEY-APR21 IN0001115 04-29-2016 WILLOUGHBY 282.24 SHANE WILLOUGHBY WILLOUGHBY-APR20001116 05-03-2016 BLACKROCK 3,593,309.80 BLACKROCK INST TRUST CO. 14394 Q4 2015 I0001117 05-03-2016 CASTLEARK 162,777.13 CASTLEARK MANAGEMENT LLC Q1 2016 INVST M0001118 05-03-2016 CITYCOLLEG 338,539.44 CITY COLLEGES OF CHICAGO ANNUITANT DEDUC0001119 05-03-2016 CROSSTOM 326.76 TOM CROSS CROSS-APR21 INV0001120 05-03-2016 GIERTZFRED 396.68 J. FRED GIERTZ GIERTZ-APR21 IN0001121 05-03-2016 ICCTA 600.00 ICCTA MAY 2016 SUBLEA0001122 05-03-2016 LEWISBRYAN 692.42 WILBERT BRYAN LEWIS LEWIS-APR21 BD 0001123 05-03-2016 MILLERDORI 455.54 DORINDA MILLER MILLER-APR21 IN0001124 05-03-2016 NEUBERGER 118,297.39 NEUBERGER BERMAN Q1 2016 INVST M0001125 05-03-2016 SHELTONDEN 475.00 DENISE SHELTON SHELTON-CPDM3 C0001126 05-04-2016 GREENBIANC 739.48 BIANCA T GREEN GREEN-APR21 INV0001127 05-04-2016 LONGFELLOW 20,274.96 LONGFELLOW INVEST. MGMT CO. Q1 2016 INVST M0001128 05-04-2016 TROWEPRICE 661,332.18 T. ROWE PRICE Q1 2016 INVST M0001129 05-06-2016 FILLINGHAM 39.78 LOU ANN FILLINGHAM FILLINGHAM-APR20001130 05-06-2016 HAYWARDS 614.24 STEVE HAYWARD HAYWARD-APR24-20001131 05-06-2016 TAYLORD 603.24 W. DOUGLAS TAYLOR TAYLOR-APR24-270001132 05-06-2016 TECHOLARN 603.24 METHAWEE TECHOLARN TECHOLARN-APR240001133 05-06-2016 WILLOUGHBY 277.76 SHANE WILLOUGHBY WILLOUGHBY-APR20001134 05-11-2016 BAUERCYNTH 123.40 CYNTHIA A. BAUER BAUER-MAY2-3 CO0001135 05-11-2016 BRIDGESLEE 193.37 LEE BRIDGES BRIDGES-MAR30-30001136 05-11-2016 CROSSTOM 182.52 TOM CROSS CROSS-MAY3 SUAA0001137 05-11-2016 GREENBIANC 93.96 BIANCA T GREEN GREEN-MAY3 SUAA0001138 05-11-2016 JOHNSONM 123.40 MARLYS M. JOHNSON JOHNSON-MAY2-3 0001139 05-11-2016 LEWISBRYAN 93.96 WILBERT BRYAN LEWIS LEWIS-MAY3 LEGI0001140 05-11-2016 MONDRIAN 211,387.78 MONDRIAN INVESTMENT PARTNERS Q1 2016 INVST M0001141 05-11-2016 NORTRUST 38,645.26 THE NORTHERN TRUST COMPANY Q1 2016 INVST M0001142 05-11-2016 ORMONDBRAN 43.42 BRANDON ORMOND ORMOND-APR8-29 0001143 05-11-2016 ROCKSTEVEN 165.50 STEVEN ROCK ROCK-MAY3 SUAA 0001144 05-11-2016 STEELEDOUG 1,077.41 DOUGLAS J. STEELE STEELE-APR23-270001145 05-16-2016 AMMONSAARO 470.32 AARON AMMONS AMMONS-APR21 IN0001146 05-16-2016 BLISSARDD 20.52 DAWN BLISSARD BLISSARD-APR26-0001147 05-16-2016 JOHNSONKEI 37.00 KEITH M. JOHNSON JOHNSON-MAY12 T0001148 05-16-2016 LEWISBRYAN 1,549.42 WILBERT BRYAN LEWIS LEWIS-APR27-29 0001149 05-16-2016 MATTHEWS 179.56 ANDREW MATTHEWS MATTHEWS-APR12 0001150 05-18-2016 EVANSJIM 157.49 JIM EVANS EVANS-APR28-29 0001151 05-18-2016 FILLINGHAM 60.32 LOU ANN FILLINGHAM FILLINGHAM-MAY10001152 05-18-2016 PACIFICINV 54,025.96 PACIFIC INVESTMENT CO. Q1 2016 INVST M0001153 05-18-2016 STATESTREE 15,435.49 STATE STREET GLOBAL ADVISORS Q1 2016 INVST M0001154 05-18-2016 WILLOUGHBY 923.39 SHANE WILLOUGHBY WILLOUGHBY-MAY10001155 05-18-2016 WINFREYAND 335.72 ANDREA WINFREY WINFREY-APR27 C0001156 05-20-2016 BAUERCYNTH 227.67 CYNTHIA A. BAUER BAUER-MAY10-12 0001157 05-20-2016 BRANSONMAR 155.99 MARILYN BRANSON BRANSON-APR28-20001158 05-20-2016 CROSSTOM 95.68 TOM CROSS CROSS-MAY10 & 10001159 05-20-2016 DUNNB 470.00 BRENDA DUNN DUNN-IPMA-HR & 0001160 05-20-2016 ROCKSTEVEN 83.75 STEVEN ROCK ROCK-MAY10 EMER0001161 05-23-2016 PANTHEONVE 262,111.79 PANTHEON VENTURES US LLP Q1 2016 INVST M0001162 05-25-2016 DUNCANJO 1,668.20 JOSEPH DUNCAN DUNCAN-MAY17-190001163 05-25-2016 GORDONSHA 256.55 SHANNON GORDON GORDON-FOOD FOR0001164 05-25-2016 ORMONDBRAN 30.39 BRANDON ORMOND ORMOND-MAY3-20 0001165 05-25-2016 UBSGLOBAL 159,499.00 UBS GLOBAL ASSET MANAGEMENT Q1 2016 INVST M

Exhibit 12b





0001166 05-27-2016 BLISSARDD 16.42 DAWN BLISSARD BLISSARD-MAY10-0001167 05-27-2016 DUNNB 40.00 BRENDA DUNN DUNN-MAY18 BD M0001168 05-27-2016 FELLERS JO 1,001.35 JOEL FELLERS FELLERS-MAY-13 0001169 05-27-2016 GONESCINDY 249.00 CINDY GONES GONES-ACTIVE DI0001170 05-27-2016 HANSENC 921.18 CHRIS HANSEN HANSEN-APR23-270001172 06-01-2016 BLACKROCK 502,123.35 BLACKROCK INST TRUST CO. Q1 2016 INVST M0001173 06-01-2016 CITYCOLLEG 340,549.66 CITY COLLEGES OF CHICAGO ANNUITANT DEDUC0001174 06-01-2016 DROZDZ JAM 531.39 JAMES DROZDZ DROZDZ-MAY10-120001175 06-01-2016 STUTZMAN N 734.41 NICK STUTZMAN STUTZMAN-MAY9-10001176 06-01-2016 WELLINGTON 617,193.47 WELLINGTON MANAGEMENTCOMPANY Q1 2016 INVST M0001177 06-03-2016 FILLINGHAM 420.69 LOU ANN FILLINGHAM FILLINGHAM-MAY 0001178 06-03-2016 ICCTA 600.00 ICCTA JUN 2016 SUBLEA0001179 06-03-2016 WESLEYDOUG 2.00 DOUG WESLEY WESLEY-WSJ PRIN0001180 06-06-2016 LOMBARDIA 51,297.31 LOMBARDIA CAPITAL PARTNERS.INC Q1 2016 MGMT IN0001181 06-06-2016 METWESTASS 216,862.45 METROPOLITAN WEST ASSET MAN. Q1 2016 MGMT IN0001182 06-08-2016 BLISSARDD 16.42 DAWN BLISSARD BLISSARD-MAY25-0001183 06-08-2016 JOHNSONKEI 1,555.81 KEITH M. JOHNSON JOHNSON-MAY25 F0001184 06-08-2016 WESLEYDOUG 735.80 DOUG WESLEY WESLEY-JUN1-3 A0001185 06-13-2016 BRIDGESLEE 26.00 LEE BRIDGES BRIDGES-MAY11-10001186 06-13-2016 FILLINGHAM 476.64 LOU ANN FILLINGHAM FILLINGHAM-JUN90001187 06-15-2016 CROSSTOM 95.36 TOM CROSS CROSS-MAY26 EXE0001188 06-15-2016 CULLOTTAMO 521.70 MONIQUE CULLOTTA CULLOTTA-JUN9-10001189 06-15-2016 GREENBIANC 556.60 BIANCA T GREEN GREEN-JUN9-10 B0001190 06-15-2016 HAYWARDS 369.30 STEVE HAYWARD HAYWARD-JUN9-100001191 06-15-2016 MATTHEWS 911.48 ANDREW MATTHEWS MATTHEWS-JUN9-10001192 06-15-2016 POLLITTKIM 1,101.36 KIM POLLITT POLLITT-JUN1-2 0001193 06-15-2016 WALKERP 296.20 PHYLLIS WALKER WALKER-JUN9-10 0001194 06-17-2016 HOUCHKRIST 922.05 KRISTEN HOUCH HOUCH-JUN9-12 B0001195 06-17-2016 KUSHNERALL 521.10 ALLISON KUSHNER KUSHNER-JUN9-100001196 06-22-2016 BLISSARDD 8.21 DAWN BLISSARD BLISSARD-JUN7-20001197 06-22-2016 LEWISBRYAN 593.31 WILBERT BRYAN LEWIS LEWIS-JUN9-10 B0001198 06-22-2016 MILLERDORI 634.24 DORINDA MILLER MILLER-MAY10 & 0001199 06-22-2016 ORMONDBRAN 39.07 BRANDON ORMOND ORMOND-MAY23-JU0001200 06-22-2016 POLLITTKIM 356.90 KIM POLLITT POLLITT-JUN9 IN0001201 06-22-2016 ROCKSTEVEN 311.28 STEVEN ROCK ROCK-JUN9-10 BD0001202 06-22-2016 WESLEYDOUG 672.60 DOUG WESLEY WESLEY-JUN9-10 0001203 06-22-2016 WILLOUGHBY 698.77 SHANE WILLOUGHBY WILLOUGHBY-JUN10001204 06-27-2016 HAYWARDS 1,295.00 STEVE HAYWARD HAYWARD-AUG22-20001205 06-29-2016 DUNNB 1,863.70 BRENDA DUNN DUNN-JUN4-8 IPM0001206 06-29-2016 ICCTA 600.00 ICCTA JULY 2016 SUBLE0001207 06-29-2016 MATTHEWS 84.92 ANDREW MATTHEWS MATTHEWS-JUN21

Payment Account Total 11,936,032.81*Payment Type Total 11,936,032.81*

Report Total 11,936,032.81*

Exhibit 12b

Exhibit 12b

To: SURS Board of Trustees From: Angela Lieb, Director of Member Services Date: August 31, 2016 Re: Member Services Division Reports Claims Since January, staff has processed over 6,300 total claims. This includes lump sum refunds, retirements, disabilities and death/survivor benefits. Of the 2,370 finalized retirement claims, 54% were highest under Money Purchase and 39% General Formula. The average monthly annuity was approximately $2,600. Calendar year to date, lump sum payouts for excess service/contribution waivers, survivor contribution refunds and portable lump sum retirements totaled over $84.2 million. As shown in the chart below, retirements for the remainder of calendar year 2016 continue to be less than calendar year 2015. This is primarily due to the increased number of members who retired in January 2016 when the Money Purchase annuity factors changed.

Insurance Staff continues to work with the Department of Central Management Services to prepare for the transition to a third party vendor. The effective date, originally scheduled for September 1st, was recently moved to September 30th.

0200400600800

10001200140016001800

Retirement Claims

2012

2013

2014

2015

2016

Exhibit 12c

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SMP PARTICCOUNT BALA

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URS), including but nystem to take actionlaw, this could chanw to correct any mis

S is for general informnal income tax quest

ter Ending Jun____________

t’s account baed ‐ with partire invested w

062 TIER II neted to Traditi

Self‐Managedon.

CIPANTS ANDANCES as of

ccount Balanceipants

not limited to benefitn contrary to law, evnge as a result of costake in benefit amoumation only and doestions and other legal

ne 30, 2016___________

alance was $8icipants’ inve

with Fidelity an

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Plan, 23.2%

D AVERAGE f June 30, 20

e

t calculation and payven in the event of

ourt opinions, statutount, even after payms not represent persol assistance.

____________

85,707 basedestments totand 41% with T

se the SMP. 9

Portable, 15.

016

yment, must comply wmisstatement of fac

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____________

on 20,111 ling TIAA‐CREF. T

9.88% chose

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with state t or law. r matters

Use of any ice either

_____

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al,

Exhibit 12d

August 4, 2016 Page 2

54% of the SMP active participants are Academic and 46% are Staff.

0%

10%

20%

30%

40%

50%

60%

70%

80%

3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016Year / Calendar Qtr

10 yr. SURS Plan Elections by Quarter

Default PortableSelf-Managed TradtionalTraditional + Default

4,7718,304

7,07415,637 35,786

8,21310,829

5,95319,132 44,127

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Traditional Portable SMP Default Total

ACTIVE SURS PARTICIPANTSACADEMIC vs STAFF as of June 30, 2016

Academic Staff

Exhibit 12d


77% of active SMP participants are full‐time, 23% are part‐time.

Education- In the 2nd Quarter I provided 62 members with 1 on 1 counseling. An SMP webinar, “Navigating the Self‐Managed Plan”, was presented on May 11th with 91 attendees. This webinar is designed primarily for “newer” participants and is intended to help answer procedural questions. The webinar also directs our members to links to the Fund Providers where they can obtain guidance in asset allocation and fund selection. The next webinar is scheduled for August 11th.

10,009 14,779 9,522 21,736 56,046

3,068 4,536 3,66313,420

24,687

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

SMP Portable Traditional Default Total

Tot. Active FULL TIME vs. PART TIME EMPLOYMENT as of June 30, 2016

Full Time Part Time

Exhibit 12d


Self Managed Plan Distributions Quarter ending June 30, 2016 Non-Retirement eligible: Total Non-Retirement eligible 226 $ 6,638,825

Fixed period 46 $ 25,961 Lump sum 59 $ 1,041,296 Rollovers 118 $ 5,347,036 QILDRO 3 $ 224,532

Retirement eligible: Total Retirement eligible 77 $ 6,772,829

Annuities 29 $ 5,056,546 Fixed period 23 $ 43,841 Lump sum 6 $ 184,122 Rollovers 19 $ 1,488,320 QILDRO 0 $

Death benefits: Total Death benefits 5 $ 625,785 Annuity 0 $

Lump sum 4 $ 386,141 Rollovers 1 $ 239 ,644

Total: 308 $ 14,037,440

Exhibit 12d