minutes state universities retirement system friday, march ... · champaign, il 61820 the following...

MINUTES

Meeting of the Board of Trustees of the State Universities Retirement System

Friday, March 10, 2017 10:00 a.m. State Universities Retirement System

1901 Fox Drive Main Conference Room Champaign, IL 61820

The following trustees were present: Mr. Tom Cross, Chair; Mr. Aaron Ammons, Dr. John Engstrom, Dr. Fred Giertz, Mr. Francis Idehen, Mr. Paul R.T. Johnson Jr., Ms. Dorinda Miller, Dr. Steven Rock, Mr. Antonio Vasquez and Mr. Craig McCrohon via conference call. Others present: Mr. Martin Noven, Executive Director; Mr. Andrew Matthews, Chief Operating Officer; Ms. Bianca Green, General Counsel; Mr. Albert Lee, Associate General Counsel; Ms. Phyllis Walker, Chief Financial Officer; Ms. Angela Lieb, Director of Member Services; Ms. Suzanne Mayer, Director of Member Outreach; Mr. Douglas Wesley, Interim Chief Investment Officer; Mr. Steve Hayward, Director of Internal Audit; Ms. Kristen Houch, Legislative Liaison; Ms. Allison Kushner, Compliance and Governance Officer; Ms. Kelly Carson 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, absent; 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.

APPROVAL OF MINUTES

Chairman Tom Cross presented the minutes from the board meeting of February 2, 2017. Trustee Paul R.T. Johnson made the following motion:

• That the minutes from the February 2, 2017 board of trustees meeting be approved as presented.

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

CHAIRPERSON’S REPORT

Chairman Cross did not have a chairperson report.

EXECUTIVE DIRECTOR’S REPORT Mr. Martin Noven spoke about the need to further inform the members of SURS about their retirement readiness and what steps the members may need to take to maintain their standard of living in reitrement. Mr. Noven described some changes that he would like to make to the SMP plan. Mr. Noven would like to get feedback from board members as well as gather employee feedback.

REVIEW OF COMMITTEE ACTION

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

• That based on the recommendation of staff and SURS investment consultant, Lombardia Capital Partners be terminated as a U.S. small cap value manager and that assets be liquidated.

• That based on the recommendation of staff and SURS investment consultant, SURS consent to the continued management of the KKR Prisma Codlin Fund LLC by Prisma Capital Partners LP, subject to satisfactory completion of legal review.

• That based on the recommendation of staff and SURS investment consultant, SURS consent to the continued management of the Newport Monarch Fund LLC by PAAMCO, subject to satisfactory completion of legal review.

• That based on the recommendation of staff and SURS investment consultant, the following motion from the April 2016 investment committee meeting be rescinded:

• That a search be conducted to identify a qualified global private equity fund of funds provider(s).

• That based on the recommendation of staff and SURS investment consultant, SURS continue utilizing Northern Trust as master trustee, subject to completion of satisfactory contract negotiations and approval by the board and if deemed necessary by the staff.

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

Corporate Governance Committee On behalf of the Corporate Governance Committee, Chairman Cross presented the committee actions. Trustee Dorinda Miller moved:

• That all of the provisions of the 2017 Glass Lewis Public Pension Guidelines and 2017 Glass Lewis International Guidelines as provided by Glass Lewis for calendar year 2017 are adopted as presented.

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

BOARD TRAVEL

Mr. Noven presented the board with travel and conference opportunities for the board’s review and approval. He encouraged trustees to make any suggestions for future educational opportunities and to send those to Kelly. Brief discussion ensued regarding additional conferences not listed on the March 2017 list that could be added. Trustee Aaron Ammons moved:

• That the board of trustees travel to attend conferences or trainings listed on the March 2017 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 conferences not listed on the March 2017 list of Upcoming Training Opportunities but verbally requested by trustees in regards to the September 2017 Emerging Managers Summit and the June 2017 Institutional Investors Forum to be approved and that all resulting allowable expenses consistent with SURS travel policy be reimbursed.

Trustee John Engstrom 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 March 2017 is incorporated as a part of these minutes as Exhibit 1 and Exhibit 2.

GENRAL COUNSEL’S LITIGATION REPORT

Ms. Bianca Green presented the March 2017 Litigation Report updating the board on pending litigation matters.

CLOSED SESSION

Chairman Cross requested that the board of trustees move into closed session for a confidential discussion regarding fraud referral. Trustee Engstrom moved that the board of trustees go into closed session under the Open Meetings Act Pursuant to §2(c)(11) and allow Mr. Steve Hayward to remain in the room. Trustee Johnson seconded and the motion carried in a roll call vote: Trustee Ammons aye

Trustee Cross aye Trustee Cullen absent Trustee Engstrom aye Trustee Giertz aye Trustee Idehen aye Trustee Johnson aye Trustee MCrohon aye – via conference call Trustee Miller aye Trustee Rock aye Trustee Vasquez aye

RETURNED TO OPEN SESSION

INFORMATIONAL ITEMS NOT REQUIRING COMMITTEE ACTION

1. Exhibit 3 - Comparative Financial Reports 2. Exhibit 4 - FOIA Quarterly Board Report for March 2017 3. Exhibit 5 - Member Services Division Report 4. Exhibit 6 - Self-Managed Plan Update for the Quarter Ending December 31, 2016

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

Respectfully submitted,

Mr. Martin Noven

Secretary, Board of Trustees

MMN:kc

MEMORANDUM TO: Board of Trustees FROM: Mr. Martin Noven Executive Director RE: Board Training Requirements and Travel Approval DATE: March 6, 2017 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 March 2017 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 conferences not listed on the March 2017 list of Upcoming Training

Opportunities but verbally requested by trustees in regards to the September 2017 Emerging Managers Summit and the June 2017 Institutional Investors Forum to be approved and that all resulting allowable expenses consistent with SURS travel policy be reimbursed.

Exhibit 1

AMENDED State Universities Retirement System

Schedule of Upcoming Training Opportunities

As of April 2017

SURS Board/Committee Meetings for 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: 2017 Fall Conference Subject Matter: Corporate Governance Issues Sponsor: Council of Institutional Investors Date: September 13-15, 2017 Location: San Diego, CA Registration Fee: Complimentary for members

Training Opportunities

Title: Public Funds Roundtable Subject Matter: Various Investment Topics Sponsor: Institutional Investors Date: April 26-27, 2016 Location: Los Angeles, CA Registration Fee: TBD Title: NEPC Annual Investment Conference Subject Matter: Various Topics Sponsor: NEPC Date: May 9-10, 2017 Location: Boston, MA Registration Fee: TBD Title: 2017 Trustee Educational Seminar Subject Matter: Introduction of Fiduciary Responsibilities Sponsor: National Conference on Public Employee Retirement Systems

(NCPERS) Date: May 21-24, 2017 Location: Hollywood, FL Registration Fee: TBD Title: Institutional Investor Forum Subject Matter: Various Investment Topics Sponsor: Nuveen Asset Management Date: June14, 2017 Location: Chicago, IL Registration Fee: TBD

Exhibit 2

Title: Emerging Managers Summit Subject Matter: Various Investment Topics Sponsor: Opal Group Date: September 14-15, 2017 Location: New York, NY Registration Fee: TBD

Exhibit 2

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 December 31, 2016

Final

Exhibit 3

STATE UNIVERSITIES RETIREMENT SYSTEMSTATEMENT OF NET ASSETSas of December 31, 2016

Actual Prior Year Increase/ (Decrease)$ %

AssetsCash and investments 17,102,096,402$ 16,466,477,532$ 635,618,870$ 3.86%

Accounts receivable & other assets 343,051,868 382,627,951 (39,576,083) -10.34%

Accrued investment income 41,292,803 42,435,803 (1,143,000) -2.69%

Fixed Assets, net of accum deprec 6,192,938 5,939,358 253,580 4.27%

Total Assets 17,492,634,011 16,897,480,644 595,153,367 3.52%

Liabilities & Designated BalancesAccounts and benefits payable 16,177,496 4,229,487 11,948,009 282.49%

Employee contributions 6,285,845,676 6,229,097,812 56,747,864 0.91%

Benefits in force and future benefit payments 11,190,610,839 10,664,153,345 526,457,494 4.94%

Total Liabilities & Designated Balances 17,492,634,011 16,897,480,644 595,153,367 3.52%

Net Assets 17,476,456,515 16,893,251,157 583,205,358 3.45%

STATE UNIVERSITIES RETIREMENT SYSTEMSUMMARY OF INVESTMENT INFORMATIONYear to dateJuly 1, 2016 - December 31, 2016

Actual Prior Year Variance Inc/(Dec)Investment Assets: Cash 318,682,415$ 304,361,494$ 14,320,922 58.4% Stocks 9,361,500,054 10,406,767,817 (1,045,267,762) -10.6% Bonds 4,543,897,202 4,835,166,630 (291,269,428) 0.2% Real estate 1,022,759,259 920,181,591 102,577,668 14.8% Alternatives 1,855,257,472 - 1,855,257,472 N/A

Total Cash and Investment Assets 17,102,096,402$ 16,466,477,532$ (1,219,638,601)$ -4.9%

Variance Inc/(Dec)Investment Income: Interest on bonds and notes 59,712,055$ 60,433,484$ (721,429) -1.2% Dividends from stocks and real estate 103,063,627 100,811,810 2,251,817 2.2% Securities Lending 2,982,020 2,033,905 948,115 46.6% Investment Expense (34,765,813) (16,379,277) (18,386,536) 112.3%Net gain (loss) on security disposal 567,477,558 (571,288,701) 1,138,766,259 -199.3%

Total Investment Income, net of expense 698,469,447$ (424,388,779)$ 1,122,858,226$ -264.6%

SURS

Fiscal Year 2017 to date 3.91%

Prior year returns basedon 6/30/2016 data.

1 Year 0.2%

3 Years 6.8%

5 Years 6.6%

10 Years 5.9%

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 3

STATE UNIVERSITIES RETIREMENT SYSTEMSTATEMENT OF OPERATIONSYear to date

July 1, 2016 - December 31, 2016Actual Prior Year Increase/ (Decrease)

$ %

Employee Contributions 140,118,037$ 145,065,282$ (4,947,245)$ -3.4%

State Appropriations 803,385,151 811,973,219 (8,588,068) -1.1%Fed/Trust/Other contributions 20,744,979 21,113,336 (368,357) -1.7%

Operating Revenue 964,248,167 978,151,837 (13,903,670) -1.4%

Benefit Expenses- Traditional Retirement annuities 962,831,371 922,024,938 40,806,433 4.4% Survivor annuities 72,682,197 68,748,839 3,933,358 5.7% Death Benefits 3,665,142 1,071,684 2,593,458 242.0%

Benefit Expenses- Portable Retirement annuities 88,493,089 75,225,344 13,267,745 17.6% Retirement LS distributions 10,951,463 11,681,104 (729,641) -6.2% Survivor annuities 1,193,591 1,017,333 176,258 17.3% Death Benefits 2,630,405 1,580,934 1,049,471 66.4%

Disability benefits 7,998,792 7,568,962 429,830 5.7%

Traditional plan refunds 16,255,024 13,314,896 2,940,128 22.1%Portable plan refunds 16,871,355 12,661,282 4,210,073 33.3%SMP balance transfers 906,788 1,095,918 (189,130) -17.3%

Total Benefit Expenses 1,184,479,217 1,115,991,234 68,487,983 6.1%

Administrative Expenses 7,411,855 7,488,523 (76,668) -1.0%

Operating Expenses 1,191,891,072 1,123,479,757 68,411,315 6.1%

Net Operating Gain / (Loss) (227,642,905) (145,327,920) (82,314,985) 56.6%

Net Investment Income / (Loss) 698,469,447 (424,388,779) 1,122,858,226 -264.6%

Increase/ (Decrease) in Net Assets 470,826,542 (569,716,699) 1,040,543,241 -182.6%

Net Assets, Beginning of Period 17,005,629,973 17,462,967,856 (457,337,883) -2.6%

Net Assets, End of Period 17,476,456,515$ 16,893,251,157$ 583,205,358 3.5%

Benefit Exp as a % of total Operating Exp 99.4% 99.3%Admin Exp as a % of total Operating Exp 0.6% 0.7%

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

Combined Plans:FY 2017 Actuarial Determined Contribution 1.930 billion (227,642,905)$ (145,327,920)$ FY 2017 Statutory Required Contribution 1.719 billionFY 2017 Employee Contribution Estimate 293 million (Inc) / Dec in Receivables (101,761,193) (188,366,486) Inc / (Dec) in Payables (14,511,173) (25,943,345) Defined Benefit Plan: Fiscal year to datePayments received- State Appropriations 467.9 million *Net Operating Gain / (Loss), cash basis (343,915,271)$ (359,637,751)$ as a % of SRC- State portion 29.0%

*Represents amount of investments liquidated to pay expendituresPayments received- Trust/fed/grants/other 20.7 million

2016 2015 2014 2013 2012Actuarial Determined Contribution (ADC) 1.853 billion 1.541 billion 1.561 billion 1.47 billion 1.28 billionStatutory Required Contribution 1.648 billion 1.588 billion 1.552 billion 1.443 billion 1.0195 billion

$ Variance 205.0 million (47.0) million 9.0 million 2.7 million 260.5 million% Variance 11.1% (3.0 %) 0.6% 4.7% 20.4%

2011 2010 2009 2008 2007Actuarial Determined Contribution (ADC) 1.23 billion 1.0 billion 874.0 million 707.5 million 705.9 millionStatutory Required Contribution 776.0 million 744.5 million 491.2 million 380.3 million 252.1 million

$ Variance 454.0 million 255.5 million 382.8 million 327.2 million 453.8 million% Variance 36.9% 25.5% 43.8% 46.2% 64.3%

Net Operating Gain/(Loss), accrued

Exhibit 3

STATE UNIVERSITIES RETIREMENT SYSTEMSUMMARY OF EXPENSES

July 1, 2016 - December 31, 2016Y-T-D Y-T-D Prior Under (Over) Budget Under (Over) Prior Year

Administrative Expenses Budget Actual Year $ % $ %ITEM:Personal Services:Salaries & Wages 4,021,401$ 3,834,415$ 3,985,460$ 186,986$ 4.6% 151,045$ 3.8%Employee's Group Health Insurance 1,399,500 1,210,759 1,263,292 188,741 13.5% 52,533 4.2%Retirement Contributions 485,418 459,960 491,446 25,458 5.2% 31,486 6.4%Medicare 58,640 50,043 53,548 8,597 14.7% 3,505 6.5% Total Personal Services 5,964,959 5,555,177 5,793,746 409,782 6.9% 238,569 4.1%

Contractual Services:Freight, Express & Drayage 3,250 2,678 2,362 572 17.6% (316) -13.4%Repairs & Maintenance, Equipment 11,636 8,673 7,555 2,963 25.5% (1,118) -14.8%Repairs & Maintenance EDP 28,725 24,609 43,122 4,116 14.3% 18,513 42.9%Statistical & Tabulation-Applications 67,517 35,576 28,854 31,941 47.3% (6,722) -23.3%Statistical & Tabulation-Operations 231,158 262,480 302,319 (31,322) -13.5% 39,839 13.2%Medical Consultant Fees 3,750 1,895 2,137 1,855 49.5% 242 11.3%Auditing & Management Services 19,790 20,040 23,700 (250) -1.3% 3,660 15.4%Legal Counsel 102,250 54,092 85,834 48,158 47.1% 31,742 37.0%Actuarial Consultant 120,058 103,954 94,529 16,104 13.4% (9,425) -10.0%Professional & Artistic Services, Recruit 232,999 277,208 114,071 (44,209) -19.0% (163,137) -143.0%Building and Ground Maintenance 85,607 79,955 52,301 5,652 6.6% (27,654) -52.9%Utilities 40,718 41,621 40,049 (903) -2.2% (1,572) -3.9%Postage 98,235 69,674 130,354 28,561 29.1% 60,680 46.6%Surety, Bond & Insurance 333,315 370,332 251,435 (37,017) -11.1% (118,897) -47.3%Subscriptions/Information Services 15,185 15,551 15,114 (366) -2.4% (437) -2.9%Board Travel 11,800 12,597 8,623 (797) -6.8% (3,974) -46.1%Board Meeting Expenses 2,100 1,873 4,280 227 10.8% 2,407 56.2%Conference Fees & Expenses 14,750 10,271 20,999 4,479 30.4% 10,728 51.1%Association Dues 38,219 39,455 27,503 (1,236) -3.2% (11,952) -43.5%Employee Training, Tuition 11,495 6,330 1,886 5,165 44.9% (4,444) -235.6%Copying, Photographic & Printing 10,230 9,161 6,301 1,069 10.4% (2,860) -45.4%Travel 47,872 32,193 56,977 15,679 32.8% 24,784 43.5%Printing Supplies 19,150 12,453 16,963 6,697 35.0% 4,510 26.6%Office & Library Supplies 30,300 21,621 19,792 8,679 28.6% (1,829) -9.2%EDP Supplies & Equipment 49,000 30,986 36,547 18,014 36.8% 5,561 15.2%Office Rental 9,945 9,945 8,888 - 0.0% (1,057) -11.9%Rental, Phone Services/Equipment 54,841 46,455 44,485 8,386 15.3% (1,970) -4.4% Total Contractual Services 1,693,895 1,601,678 1,446,977 92,217 5.4% (154,701) -10.7%Depreciation 255,000 255,000 247,800 - 0.0% (7,200) -2.9% TOTAL 7,913,854$ 7,411,855$ 7,488,523$ 501,999$ 6.3% 76,668$ 1.0%

Capital Expenditures Budget:Office furniture & IS equipment 273,019$ 96,204$ 10,178$ 176,815$ 64.8% (86,026)$ -845.2%Building Improvements 330,000$ 93,331$ 7,957$ 236,670 71.7% (85,374) -1072.9% TOTAL 603,019$ 189,535$ 18,135$ 413,484$ 68.6% (171,400)$ -945.1%

Y-T-D PriorIncrease

(Decrease)Investment Expenses Actual Year $

Investment Management Fees: U.S. Equities 2,679,684 4,333,051$ (1,653,367)$ International Equities 6,085,993 2,127,302 3,958,692 Global Equities 2,668,386 1,731,482 936,904 Private Equities 5,293,021 1,715,171 3,577,850 Fixed Income 5,559,473 3,171,944 2,387,529 Real Estate 7,135,167 950,068 6,185,099 Hedge Funds 1,886,691 - 1,886,691 Commodities 929,386 - 929,386 Opportunity Fund 784,552 - 784,552 Securities Lending Expense 268,382 380,887 (112,505) Consultant Fees 97,875 172,875 (75,000) Custody & Performance Reporting 610,000 641,500 (31,500) Database and Resources Expense 70,333 85,188 (14,855) Personnel Expense 602,575 620,108 (17,533) Travel Expense 9,146 23,712 (14,566) Investment Counsel Fees 85,149 85,478 (329) Total Investment Expenses 34,765,813$ 16,038,767$ 18,727,046$

Minority 3.8%

Women 13.6%

Disabled 0.0% Non-

MWDBE (Minority, Women, Disabled Business

Enterprise) 82.6%

FY 2016 Percentage of Purchases

Exhibit 3

STATE UNIVERSITIES RETIREMENT SYSTEMOPERATIONAL STATISTICSas of December 31, 2016

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

Member Services - ProcessingRetirement Applications: Received 162 229 345 290 309 238 212 226 201 239 181 188 Processed 276 338 341 519 358 284 191 158 178 182 246 224 Outstanding 729 803 769 433 295 343 415 531 576 599 532 469 # of Days - Ready for Calc to Approval 56 57 43 46 38 33 45 32 36 42 51 51

Refund Applications: Received 389 366 402 308 320 335 336 373 344 326 322 361 Processed 347 413 467 352 318 331 352 360 350 392 310 419 Outstanding 247 231 202 200 232 258 260 278 283 227 239 198 # of Days- Application to Approval 18 14 11 15 15 15 16 15 15 17 14 9

Disability & DRA Applications: Received 38 43 37 45 35 41 47 39 36 40 38 35 Processed 42 44 47 63 55 59 30 60 49 45 56 58 Outstanding 118 123 122 123 115 102 120 115 106 116 107 99

Death Benefit Applications: Received 140 145 148 128 125 148 136 146 130 115 156 168 Processed 82 138 112 161 133 136 112 136 133 112 102 156 Outstanding 734 720 763 697 690 664 661 643 504 473 526 520

Service Credit Purchases: Received 240 349 313 277 288 261 245 271 281 257 229 205 Processed 198 226 251 296 182 213 295 190 249 203 220 215 Outstanding 200 254 234 166 161 197 94 135 129 125 121 118

OutreachChampaign Office & All Phone Appts* 209 271 412 452 484 368 374 296 358 424 393 234Champaign Walk-in Visitors 635 601 885 769 826 760 758 828 718 725 801 608Naperville Office Appointments 30 42 24 30 56 0 41 31 35 24 44 32Written Estimates 146 95 104 59 69 51 113 138 46 65 57 173Group Presentations/Webinars 2 3 6 10 9 1 3 3 3 11 2 2Benefits Fairs 1 2 1 0 0 0 0 3 0 5 1 0Seminars 0 0 2 5 3 0 0 0 2 2 3 0

Incoming Webmails Processed 428 476 444 369 404 367 323 376 340 351 385 299

Telephone Calls 9,412 9,204 10,279 9,804 9,675 8,695 8,672 9,406 8,882 8,720 7,860 7,622 Ave Hold Time (minutes) 2:30 1:13 1:14 1:35 1:58 1:14 1:54 1:23 2:16 2:21 2:20 2:44 Ave Talk Time (minutes) 5:15 5:06 4:56 5:05 5:05 5:04 4:22 4:44 4:54 5:03 5:01 5:06 Abandoned Calls 827 403 460 1305 660 380 591 488 713 666 603 613 Percent Calls Answered on 1st Ring 99.00% 100.00% 100.00% 99.00% 99.00% 99.00% 99.00% 99.00% 99.00% 99.00% 99.00% 99.00%

Human Resources

Staffing Approved FTE'S 132.00 132.00 132.00 132.00 132.00 132.00 132.00 132.00 134.00 134.00 134.00 134.00 Current FTE'S 127.00 127.00 127.00 125.00 125.00 125.00 123.00 122.00 121.00 120.00 123.00 122.00 Open FTE's 5.00 5.00 5.00 7.00 7.00 7.00 9.00 10.00 13.00 14.00 11.00 12.00

Current Staffing by Area Member Services 43.00 43.00 43.00 42.00 42.00 41.00 41.00 41.00 41.00 40.00 40.00 40.00 Outreach 32.00 32.00 32.00 31.00 31.00 32.00 32.00 32.00 31.00 31.00 31.00 31.00 Information Systems 22.25 22.25 22.25 22.25 22.25 22.25 22.25 22.25 22.25 22.25 22.25 22.25 Accounting 4.55 4.55 4.55 4.55 4.55 4.55 4.55 3.55 3.55 3.55 4.55 4.55 Administration 14.00 14.00 14.00 14.00 14.00 14.00 13.00 13.00 13.00 13.00 14.00 13.00 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 7.00 7.00 7.00 7.00 7.00 7.00 6.00 6.00 6.00 6.00 7.00 7.00

Contractor FTE's 0 0 0 0 0 0 0 0 0 0 0 0Extra Help FTE's 0 1 1 2 2 2 3 3 3 3 2 1Interns 1 1 1 1 0 0 1 1 1 1 0 0

Known Retirements/Resignations 0 0 0 0 0 1 2 1 0 0 0 1Ongoing Disability (off site) 3 3 3 3 3 3 3 3 3 3 0 4Personal Leave 1 0 0 0 0 0 0 0 0 0 0 0Turnover Voluntary 0 0 0 1 0 1 1 0 0 1 0 0 Retirement 0 0 0 0 0 0 1 1 0 0 0 1 Termination 1 0 1 0 0 0 0 0 0 0 0 0 Death 0 0 0 0 0 0 0 0 1 0 0 0New Hires 2 0 0 0 0 1 0 0 1 0 0 0Diversity-Race White 105 105 105 104 104 103 103 102 102 101 103 102 African American 11 11 11 10 10 10 9 9 8 8 8 8 Asian 6 6 6 6 6 6 6 6 6 6 6 6 Latino 5 5 5 5 5 5 5 5 5 5 6 6 Other 0 0 0 0 0 0 0 0 0 0 0 0

Diversity-Gender Male 39 39 39 39 39 40 38 38 37 37 38 37 Female 88 88 88 86 86 85 85 84 84 83 85 85

Diversity-Age 20 - 29 8 8 8 8 7 7 6 5 6 6 8 8 30 - 39 25 25 25 24 25 25 24 25 25 25 24 25 40 - 49 44 43 43 42 42 41 41 40 40 39 40 39 50 - 59 35 36 36 36 35 35 35 35 34 34 35 33 60 - 69 15 15 15 15 16 17 17 17 16 16 16 17 70+ 0 0 0 0 0

Overtime Hours 1 4.5 8 130.75 111 2 1.5 2.75 20 62.5 63.25 27Training Hours 111 95.5 102 196.5 97.25 75.5 84.5 170 169 180 129.5 109.25

Exhibit 3

STATE UNIVERSITIES RETIREMENT SYSTEMOPERATIONAL STATISTICSas of December 31, 2016

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

AccountingEmployer Payrolls Processed 136 154 164 147 161 158 154 144 171 149 161 180Administrative Expense Payments 223 214 204 252 212 174 206 195 235 223 231 182Purchase Order Requests 23 18 21 24 19 17 14 30 22 17 23 20

Outstanding Employer Web Events 297 288 277 253 327 307 294 296 291 402 351 300

Information Technology - Operations

Email Incoming Emails 129,450 127,721 167,688 163,169 165,618 126,456 132,077 131,925 142,313 133,027 116,323 137,662 Blocked Emails 75,714 73,690 108,461 108,636 111,653 74,893 78,716 77,898 88,143 80,165 62,455 80,912 Delivered Emails 53,736 54,031 59,227 54,533 53,965 51,563 53,361 54,027 54,170 52,862 53,868 56,750 System Capacity 50.70% 52.0% 52.2% 53.1% 53.1% 28.6% 14.7% 58.6% 58.6% 53.3% 53.3% 53.8%System Availability n/a n/a n/a n/a n/a 98.98% 96.58% 95.41% 98.91% 96.19% 97.82% 97.49%

System Response (avg in milliseconds) n/a n/a n/a n/a n/a <=5ms <=5ms <=5ms <=4ms <=4ms <=11ms <=8ms

Support Services

Imaging/Data Entry Member Documents Scanned 10,865 10,527 11,691 10,660 12,049 11,009 9,745 11,524 11,280 9,384 8,867 8,597 Member Documents Imported 20,229 18,442 199,946 16,639 19,076 18,112 17,190 17,426 23,773 23,824 13,919 16,538 Admin Documents Scanned 273 276 490 389 411 478 322 416 303 256 206 243 Faxes Received 735 880 1,042 919 1,047 1,006 876 1,099 1,027 854 810 671 Print to TIFF 1,956 3,055 2,434 2,084 2,529 2,245 2,040 2,161 2,475 1,905 2,325 3,203 Web Generated Documents 751 618 608 573 487 509 535 493 510 517 522 575 Total Incoming Documents 34,809 33,798 216,211 31,264 35,599 33,359 30,708 33,119 39,368 36,740 26,649 29,827 Mailroom Statistics Outbound Items Mailed 134,702 25,163 24,161 24,161 22,606 76,204 18,916 17,009 18,042 14,116 91,302 13,462

Information Technology - Applications

Internet Visits Member Website 35,086 28,285 31,393 30,452 28,858 9,383 31,853 31,784 34,335 35,175 34,854 32,777 Internet Benefit Estimates 13,577 11,173 12,407 11,109 10,024 3,703 10,434 10,583 10,963 9,762 10,756 7,220 Employer Website 1,328 1,225 1,171 826 934 1,171 1,250 1,755 2,178 1,267 945 788 SURS Home Page 86,076 74,133 77,059 71,822 65,000 62,771 74,778 74,153 82,114 68,011 65,678 61,330

Process Change Requests (PCR's) New Requests 43 46 49 29 33 40 36 46 30 27 23 43 In Process 245 244 242 232 221 236 227 244 250 252 252 250 In User Test 62 55 61 55 56 54 55 60 65 56 62 73 Promoted 41 47 44 35 38 34 42 22 19 27 12 24

Program Promotions Word Letter 4 36 8 40 8 24 10 23 11 15 12 9 Web 57 12 33 77 23 19 17 11 11 24 4 15 CSG 43 40 26 99 72 44 50 96 22 38 11 176 Query 0 2 0 8 1 0 0 1 3 0 0 1

STATE UNIVERSITIES RETIREMENT SYSTEMRISK MANAGEMENT SUMMARYas of December 31, 2016

Risk Management: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecInternal audits Scheduled 15 15 15 15 15 15 16 15 15 15 16 16 In process 5 3 4 6 4 2 2 2 3 6 4 4 Completed 0 2 0 0 3 3 0 2 1 1 2 1

Planned Projects Scheduled 14 14 14 14 14 14 13 22 22 22 22 22 In process 4 1 1 0 0 0 1 3 2 1 1 1 Completed 1 1 1 2 1 1 1 2 3 1 3 1

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

Exhibit 3

STATE UNIVERSITIES RETIREMENT SYSTEM LEGAL AND LEGISLATIVE SUMMARY As of December 31, 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

5 new reviews received; 12 decisions issued; 6 dismissals issued

7 received in December

No Hearing in December Green/Lee/Lieb

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 3

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

26 Processed Completed Nyi

Subpoena's 14 Processed Completed Nyi Small Estate Affidavits 13 processed Completed Nyi Contracts Number Vendor Contract Amount Status Attorney/Staff C17-30 Illinois Comptroller None listed Complete Green C17-31 A&R Mechanical $267,000 Complete Green C17-32 Express Services

Inc. Not to exceed $50,000 Complete Green

C17-33 Record Systems $825 Complete Green C17-34 DMG Consulting Not to exceed $25,000 Complete Green C17-35 Service Express Inc Monthly fee $1,370 Complete Lee C17-36 SIRIUS $9,880.00 Complete Green Rules Heading Subject Matter Ex-Parte Communication Status Attorney/Staff FOIA Number Date of Request Requestor/Firm Subject Matter Status 17-24 12.8.16 Karina Zinkiewicz/PEI

Alternative Insight Investment completed

17-25 12.9.16 Kristin Danley-Greiner/KSDG

Communications SURS Completed

17-26 12.12.16 Haley Parker/Preqin Investment Completed 17-27 12.15.16 Jodi Cohen/Chicago Tribune Member Completed 17-28 12.21.16 Todd Green/Talcott Franklin Investment Completed

Exhibit 3

0

20

40

60

80

100

120

FY2008

2009 2010 2011 2012 2013 2014 2015 2016 2017

FOIA Requests

29%

39%

32%

Fiscal Year 2017 FOIA Requests by Subject Matter

MemberInformation

InvestmentInformation

SURSMiscellaneousInformation

Exhibit 3

SURS SELF MANAGED PLAN

FINANCIAL STATEMENTS AND

SUMMARY OF PERFORMANCE MEASUREMENTS

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

As of December 31, 2016

Exhibit 3

SURS SELF MANAGED PLANSTATEMENT OF OPERATIONSYear to date

July 1, 2016 - December 31, 2016


Employee contributions from: Balance transfers 909,739$ 1,100,422$ (190,683)$ -17.3% Contributions 37,238,739 35,902,870 1,335,869 3.7% Service credit purchases 222,057 245,450 (23,393) -9.5% Roll-ins 1,133,020 199,483 933,537 468.0%

Employer contributions from: State Appropriations 30,544,233 29,599,823 944,410 3.2% Trust, federal and grant funds 3,982,354 3,593,714 388,640 10.8%

Operating Revenue 74,030,142 70,641,762 3,388,380 4.8%

EXPENDITURES:

Retirement annuities & lump sum distribu 18,801,229 22,535,652 (3,734,423) -16.6%Death benefits 839,908 571,476 268,432 47.0%Separation refunds 14,010,539 12,418,956 1,591,583 12.8%Disability benefits 931,762 1,024,599 (92,837) -9.1%

Administrative expenses 220,622 228,889 (8,267) -3.6%

Operating Expenses 34,804,060 36,779,572 (1,975,512) -5.4%

Net Operating Gain / (Loss) 39,226,082 33,862,190 5,363,892 15.8%

Net Investment Income / (Loss) 92,614,813 (113,972,554) 206,587,367 -181.3%

Increase/ (Decrease) in Net Assets 131,840,895 (80,110,364) 211,951,259 -264.6%

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

Net Assets, End of Period 1,957,346,663$ 1,673,443,650$ 283,903,013 17.0%

Employer and Employee Contributions - Self Managed Plan

YTD Estimated TotalFY 2017 FY 2017 FY 2016

Employer Rate 7.60% 7.60% 7.60%Employee Rate 8.00% 8.00% 8.00%Employer Contribution - State 30.5 million 61.9 million 58.5 millionEmployer Contribution - trust/federal/gra 4.0 million 7.0 million 6.8 millionEmployee Contribution 39.5 million 76.5 million 76.5 million

SURS SELF MANAGED PLAN STATEMENT OF NET ASSETS As of December 31, 2016


Assets

Accounts Receivable 2,668,864$ 2,436,286$ 232,578$ 9.5%

Investments: Cash and short term investments 168,101,906 148,274,479 19,827,427 13.4% Equities 951,188,953 843,999,080 107,189,873 12.7% Fixed income 143,906,225 132,727,472 11,178,753 8.4% Balanced funds 551,574,685 422,166,831 129,407,854 30.7% Real estate 37,649,823 27,482,668 10,167,155 37.0% Disability funds 87,763,134 86,680,663 1,082,471 1.2% Employer forfeiture funds 14,493,073 9,676,171 4,816,902 49.8%

Total Assets 1,957,346,663 1,673,443,650 283,903,013 17.0%

Liabilities and Reserves

Member balances 1,855,088,319 1,577,084,524 278,003,795 17.6%

Reserve for disability benefits 87,765,271 86,682,955 1,082,316 1.2%

Reserve for employer forfeitures 14,493,073 9,676,171 4,816,902 49.8%

Total Liabilities and Reserves 1,957,346,663$ 1,673,443,650$ 283,903,013$ 17.0%

Exhibit 3

SURS SELF MANAGED PLANAdministrative ExpensesJuly 1, 2016 - December 31, 2016

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

ITEM:Personal services:*Salaries & wages 147,404$ 139,764$ 145,418$ 7,640$ 5.2% (5,654)$ -3.9%Employee's group health insurance 50,260 46,566 48,129 3,694 7.3% (1,563) -3.2%Retirement contributions 17,532 17,221 17,959 311 1.8% (738) -4.1%Medicare 2,015 2,027 2,108 (12) -0.6% (81) -3.8% Total Personal Services 217,211 205,578 213,614 11,633 5.4% (8,036) -3.8%

Contractual services:Investment consulting 22,250 10,875 10,875 11,375 51.1% - 0.0%Legal fees - - - 0 0.0% - 0.0%Postage 3,050 3,485 3,190 (435) -14.3% 295 9.2%Printing & copying 600 684 610 (84) -13.9% 74 12.1% Conference and meeting expenses - - - 0 0.0% - 0.0%Association Fees 600 - 600 600 100.0% (600) -100.0%Employer & Member Seminars - - - 0 0.0% - 0.0%Travel 500 - - 500 100.0% - 0.0% Total Contractual Services 27,000 15,044 15,275 11,956 44.3% (231) -1.5%

TOTAL 244,211 220,622 228,889 23,589 9.7% 8,267 3.6%

SURS SELF MANAGED PLANOPERATIONAL STATISTICS As of December 31, 2016

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

ProcessingMember allocations: lead administratorarrangement initiated April 29, 2016. by telephone 4 2 4 5 0 0 0 0 0 0 0 0 by internet 151 117 89 73 0 0 0 0 0 0 0 0 by mailed form 32 40 26 21 0 0 0 0 0 0 0 0

Terminations processed 82 92 114 83 103 133 115 155 229 204 118 99

Re-hires processed 22 17 8 7 8 7 5 17 37 14 6 12

Information distributed: Distribution packets to members 125 123 169 115 155 178 155 193 240 232 154 141 Withdrawal forms to providers 78 97 81 76 73 85 95 103 92 80 86 77

Retirement eligible lump sum payments 7 17 30 17 14 8 11 15 13 15 7 8

Separation refund payments 91 88 110 106 140 108 102 116 130 114 124 125

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

SMP elections/ total plan elections 152 132 100 78 65 83 109 142 141 113 109 116

Total plan elections 855 931 1106 594 522 479 704 757 585 547 483 537SMP % of total elections 17.78% 14.18% 9.00% 13.13% 12.45% 17.30% 15.48% 18.76% 24.10% 20.66% 22.56% 21.60%Total active participants 13,160 13,175 13,147 13,161 13,144 13,077 13,054 13,048 13,080 13,039 13,055 13,110Total terminated participants 6,874 6,931 6,956 6,941 6,955 7,034 7,085 7,149 7,157 7,239 7,261 7,232

Total SMP Participants 20,034 20,106 20,103 20,102 20,099 20,111 20,139 20,197 20,237 20,278 20,316 20,342Member ContactWalk-in 4 6 14 10 20 4 8 12 4 2 4 12Telephone calls 331 348 356 361 415 382 395 374 346 372 336 255Unified Statements-email notice 15,313 0 0 15,575 0 0 15,882 0 0 16,000 0 0Webmail inquiries 57 88 81 63 63 62 61 44 30 29 40 43SMP Counseling Appointments 23 22 28 18 19 25 13 26 37 33 27 18

Under (Over)From Budget From Prior Yr

Increase (Decrease)

Exhibit 3

Date: February 27, 2017 To: Board of Trustees From: Phyllis L. Walker Re: SURS Variance Analysis – 2nd Quarter Fiscal Year 2017 Administrative Expenses

Attached is the Summary of Administrative Expenses and Capital Expenditures of the State Universities Retirement System financial activity as of the 2nd Quarter of Fiscal Year 2017 (July 1, 2016 – December 31, 2016). The total non-capital variance is under budget by5.4%. Below is the variance explanation of a few of the significant variances.

Expense Line Item Variance Explanation

Salaries & Wages Under by $186,986 Under due to several open positions as a result of staff retirements and turnover.

Employee Health Insurance Under by $188,741 Under due to the staff insurance premium expense being lower than expected. SURS has not received premium changes from CMS for this fiscal year yet.

Statistical & Tabulation-Applications

Under by $31,941 Under due to delay of purchase of new software.

Statistical & Tabulation-Operations

Over by $31,322 Over due to purchase of Gartner system application earlier than budgeted.

Legal Counsel Under by $48,158 Under due to legal litigation expense ($28k), board legal counsel expense ($23k) being lower than budgeted offset by legal benefit expense ($4k) being higher than budgeted.

Professional & Artistic Services/Recruitment

Over by $44,209 Over due to the proxy service, executive search service and MSCI service being higher than budgeted offset by the delay of the computer data center HVAC project and other expenses being less than budgeted.

Postage Under by $28,561 Under due to postage expense being lower than budgeted

Surety, Bond & Insurance Over by $37,017 Over mainly due to FY 2017 fiduciary insurance expense being higher than budgeted.

Capital Expenditure Under by $413,484 Under due to the (1) building system automation project ($223k) has not been completed and (2) the network backbone project ($146k) not completed.

Exhibit 3

STATE UNIVERSITIES RETIREMENT SYSTEMSUMMARY OF EXPENSES

July 1, 2016 - December 31, 2016Y-T-D Y-T-D Prior Under (Over) Budget

Administrative Expenses Budget Actual Year $ %ITEM:Personal Services:Salaries & Wages 4,021,401$ 3,834,415$ 3,985,460$ 186,986$ 4.6%Employee's Group Health Insurance 1,399,500 1,210,759 1,263,292 188,741 13.5%Retirement Contributions 485,418 459,960 491,446 25,458 5.2%Medicare 58,640 50,043 53,548 8,597 14.7% Total Personal Services 5,964,959 5,555,177 5,793,746 409,782 6.9%

Contractual Services:Freight, Express & Drayage 3,250 2,678 2,362 572 17.6%Repairs & Maintenance, Equipment 11,636 8,673 7,555 2,963 25.5%Repairs & Maintenance EDP 28,725 24,609 43,122 4,116 14.3%Statistical & Tabulation-Applications 67,517 35,576 28,854 31,941 47.3%Statistical & Tabulation-Operations 231,158 262,480 302,319 (31,322) -13.5%Medical Consultant Fees 3,750 1,895 2,137 1,855 49.5%Auditing & Management Services 19,790 20,040 23,700 (250) -1.3%Legal Counsel 102,250 54,092 85,834 48,158 47.1%Actuarial Consultant 120,058 103,954 94,529 16,104 13.4%Professional & Artistic Services, Recruit 232,999 277,208 114,071 (44,209) -19.0%Building and Ground Maintenance 85,607 79,955 52,301 5,652 6.6%Utilities 40,718 41,621 40,049 (903) -2.2%Postage 98,235 69,674 130,354 28,561 29.1%Surety, Bond & Insurance 333,315 370,332 251,435 (37,017) -11.1%Subscriptions/Information Services 15,185 15,551 15,114 (366) -2.4%Board Travel 11,800 12,597 8,623 (797) -6.8%Board Meeting Expenses 2,100 1,873 4,280 227 10.8%Conference Fees & Expenses 14,750 10,271 20,999 4,479 30.4%Association Dues 38,219 39,455 27,503 (1,236) -3.2%Employee Training, Tuition 11,495 6,330 1,886 5,165 44.9%Copying, Photographic & Printing 10,230 9,161 6,301 1,069 10.4%Travel 47,872 32,193 56,977 15,679 32.8%Printing Supplies 19,150 12,453 16,963 6,697 35.0%Office & Library Supplies 30,300 21,621 19,792 8,679 28.6%EDP Supplies & Equipment 49,000 30,986 36,547 18,014 36.8%Office Rental 9,945 9,945 8,888 - 0.0%Rental, Phone Services/Equipment 54,841 46,455 44,485 8,386 15.3% Total Contractual Services 1,693,895 1,601,678 1,446,977 92,217 5.4%Depreciation 255,000 255,000 247,800 - 0.0% TOTAL 7,913,854$ 7,411,855$ 7,488,523$ 501,999$ 6.3%

Capital Expenditures Budget:Office furniture & IS equipment 273,019$ 96,204$ 10,178$ 176,815$ 64.8%Building Improvements 330,000$ 93,331$ 7,957$ 236,670 71.7% TOTAL 603,019$ 189,535$ 18,135$ 413,484$ 68.6%

Exhibit 3

Check ReportSTATE UNIV RETIREMENT SYSTEM Page 102-24-2017

CheckCheck Date Amount Name Description

59803 10-03-2016 16,324.91 AFSCME CHAPTER 31 ANNUITANT DEDUCTION 59804 10-03-2016 4,228.50 AMERICAN UNITED LIFE INS. ANNUITANT DEDUCTION 59805 10-03-2016 10.25 AWARDS LTD. NAME PLATE 59806 10-03-2016 6,837.97 BLACK HAWK COLLEGE ANNUITANT DEDUCTION 59807 10-03-2016 15.60 BREEZE COURIER SEPT12 LEGAL PUBLICATION 59808 10-03-2016 63.00 CHAMPAIGN DO-IT-BEST HARDWARE GENERAL HARDWARE 59809 10-03-2016 650.00 IL DEPT OF CENTRAL MGMT SVCS T2222476 AUG 2016 ICN INTERNET 59810 10-03-2016 2,757,095.87 IL DEPT OF CENTRAL MGMT SVCS ANNUITANT DEDUCTION 59811 10-03-2016 3,044.00 COOK CO COLLEGE TEACHERS UNION ANNUITANT DEDUCTION 59812 10-03-2016 399.21 ILLINOIS VALLEY COMM COLLEGE ANNUITANT DEDUCTION 59813 10-03-2016 285.00 INSTITUTE OF INTERNAL AUDITORS OCT25-27(3) AUDITORS SIAAB CON 59814 10-03-2016 1,224.73 INTERNAL REVENUE SERVICE XXX-XX-0383 OCT 2016 PMT 59815 10-03-2016 1,000.00 INTERNAL REVENUE SERVICE XXX-XX-7143 OCT 2016 PMT 59816 10-03-2016 5,554.76 INTERNAL REVENUE SERVICE XXX-XX-5594 OCT 2016 PMT 59817 10-03-2016 4,893.50 ISEA/RETIREES ANNUITANT DEDUCTION 59818 10-03-2016 753.08 JOHN A LOGAN COLLEGE ANNUITANT DEDUCTION 59819 10-03-2016 1,613.01 LAKE LAND COLLEGE ANNUITANT DEDUCTION 59820 10-03-2016 3.30 MCHENRY COMM COLLEGE INS ANNUITANT DEDUCTION 59821 10-03-2016 5,003.27 PARKLAND COLLEGE ANNUITANT DEDUCTION 59822 10-03-2016 311.15 RELY CO ENVELOPE #9 (4 BOXES) 59823 10-03-2016 1,150.00 TOMASINE ROMANO XXX-XX-4355 OCT 2016 PMT 59824 10-03-2016 474.82 STAPLES ADVANTAGE OFFICE SUPPLIES

10-03-2016 STAPLES ADVANTAGE OFFICE SUPPLIES10-03-2016 STAPLES ADVANTAGE OFFICE SUPPLIES

59825 10-03-2016 25,651.23 STATE UNIV. ANNUITANTS ASSN. ANNUITANT DEDUCTION 59826 10-03-2016 349.50 THOMPSON McCLELLAN SEPT16 PHOTOGRAPHY & DIGITAL U 59827 10-03-2016 780.00 TRITON COLLEGE ANNUITANT DEDUCTION 59828 10-03-2016 405.50 UNIVERSITY PROFESSIONALS IL. ANNUITANT DEDUCTION 59829 10-03-2016 3,695.00 UNIVER OF IL CAMPUS RECREATION ANNUITANT DEDUCTION 59830 10-03-2016 618.00 UPI-COPE ANNUITANT DEDUCTION 59831 10-03-2016 77.55 UNITED PARCEL SERVICE FREIGHT SEPT19-23 2016 59832 10-03-2016 2,992.99 UNITED STATE TREASURY XXX-XX-8400 OCT 2016 PMT 59833 10-03-2016 50.00 US TREASURY XXX-XX-1467 OCT 2016 PMT 59834 10-03-2016 80,439.01 JOYCE MCNAMARA-COUGHLIN STALE DATE CHECK

10-03-2016 JOYCE MCNAMARA-COUGHLIN STALE DATE CHECK10-03-2016 JOYCE MCNAMARA-COUGHLIN STALE DATE CHECK10-03-2016 JOYCE MCNAMARA-COUGHLIN STALE DATE CHECK10-03-2016 JOYCE MCNAMARA-COUGHLIN STALE DATE CHECK10-03-2016 JOYCE MCNAMARA-COUGHLIN STALE DATE CHECK10-03-2016 JOYCE MCNAMARA-COUGHLIN STALE DATE CHECK10-03-2016 JOYCE MCNAMARA-COUGHLIN STALE DATE CHECK10-03-2016 JOYCE MCNAMARA-COUGHLIN STALE DATE CHECK10-03-2016 JOYCE MCNAMARA-COUGHLIN STALEDATE CHECK10-03-2016 JOYCE MCNAMARA-COUGHLIN STALEDATE CHECK10-03-2016 JOYCE MCNAMARA-COUGHLIN STALEDATE CHECK

59835 10-04-2016 20.00 SUMMARY PAYMENT MID 55103- REFUND RET ED SEMIN 59836 10-04-2016 30.00 SUMMARY PAYMENT MID 1184763- REFUND RET ED SEM 59837 10-04-2016 1,125.00 APPFA FY17 APPFA CONF (3 AUDITORS) 59838 10-04-2016 316.02 INTERNAL REVENUE SERVICE 2015 - FORM 1042 PENALTY 59839 10-04-2016 262,809.00 MESIROW INSURANCE SERVICES INC FY17 FIDUCIARY INSURANCE

10-04-2016 MESIROW INSURANCE SERVICES INC FY17 EXCESS FIDUCIARY INSURANC 59840 10-04-2016 50.00 NORTHEASTERN ILL. UNIV. OCT6 2016 FALL JOB FAIR REG FE 59841 10-04-2016 6,199.00 PAYSCALE INC PAYSCALE INSIGHT BASIC 59842 10-04-2016 377.81 STAPLES ADVANTAGE OFFICE SUPPLIES

10-04-2016 STAPLES ADVANTAGE OFFICE SUPPLIES 59843 10-04-2016 1,237.00 OWEN J FLAGEL STALEDATE CHECK

10-04-2016 OWEN J FLAGEL STALEDATE CHECK (RA)10-04-2016 OWEN J FLAGEL STALEDATE CHECK (W0)

59844 10-04-2016 1,747.13 DARKO JAMNIK STALE DATE CHECK

Exhibit 3



59844 10-04-2016 1,747.13 DARKO JAMNIK STALEDATE CHECK 59845 10-06-2016 62.59 SUMMARY PAYMENT MID 1043982 - REFUND INS PREM 59846 10-06-2016 377.07 SUMMARY PAYMENT MID 1166369 - REFUND INS PREM 59847 10-06-2016 30.00 SUMMARY PAYMENT MID 102085 - CNCLLD RET SEM 59848 10-06-2016 252.95 CG SIGNATURE EVENTS CATERING SEPT29 RET SEM BOX LUNCHES 59849 10-06-2016 557.33 IL DEPT OF CENTRAL MGMT SVCS S6930000 AUG 2016 CMS FUNDS 59850 10-06-2016 995.92 JOHN H. ENGSTROM ENGSTROM-SEPT28-30 TRUSTEE WRK

10-06-2016 JOHN H. ENGSTROM ENGSTROM-SEPT14-16 BD MTG 59851 10-06-2016 25,000.00 FINANCIAL RECOVERY TECHNOLOGIE FY17 ANNUAL SUBSCRIPTION 59852 10-06-2016 7,460.91 HUBER & ASSOCIATES, INC. NETWORKING PROJECT 59853 10-06-2016 54.35 ILLINOIS AMERICAN WATER OCT 2016 FIRE SVC 59854 10-06-2016 80.00 ILLINOIS CUPA-HR DUNN-CUPA HR FALL CONF 59855 10-06-2016 3,108.37 KNOWBE4, INC. SECURITY AWARENESS TRAINING 59856 10-06-2016 101.00 CRAIG MCCROHON MCCROHON-FEB10-11 BD MTG 59857 10-06-2016 4,375.00 MRC INFORMATION TECHNOLOGY INC KTM IMPLEMENTATION 59858 10-06-2016 450.00 NAPPA FY17 RENEWAL DUES 59859 10-06-2016 23.04 PROPIO LANGUAGE SERVICES SEPT 2016 INTERP SVC 59860 10-06-2016 2,234.83 QUICKSILVER MAILING SERVICES SEPT16-30 2016 FLATS POSTAGE

10-06-2016 QUICKSILVER MAILING SERVICES SEPT 2016 POSTAGE (PRESORT) 59861 10-06-2016 525.23 URBANA/CHAMPAIGN SAN DIST AUG17-SEPT16 SEWER SVC 59862 10-06-2016 6,059.16 PETER HARMET SHIRLEY HARMET MID 110407 59863 10-11-2016 173.77 COMCAST CABLE & INTERNET OCT 2016 INTERNET SVC

10-11-2016 COMCAST CABLE & INTERNET OCT 2016 TV SVC 59864 10-11-2016 1,580.00 COUNCIL INSTITUTIONAL INVESTOR PENSION FUND TRAIN REGIST 4 BD 59865 10-11-2016 61,022.67 GABRIEL,ROEDER,SMITH & CO. SEPT 2016 ACTUARIAL & FY16 VAL 59866 10-11-2016 4,000.00 JANET JONES & ASSOCIATES, INC. SEPT 2016 LOBBY SVC 59867 10-11-2016 723.39 LINCOLN OFFICE OFFICE CHAIR REPAIR (3) 59868 10-11-2016 2,380.00 MIDWEST MAILING & SHIPPING SYS 2017 MAINT AGRM FOR FOLDER INS 59869 10-11-2016 100.00 NASRA 2016 PPCC AWARD 59870 10-11-2016 1,057.50 NORTHERN ILLINOIS UNIVERSITY OCT 2016 RENT 59871 10-11-2016 430.36 SECOND EXECUTIVE PARK AUG & SEPT 2016 GEESE CONTROL

10-11-2016 SECOND EXECUTIVE PARK ASH TREE TRMT (5)10-11-2016 SECOND EXECUTIVE PARK SEPT 2016 TRIM/WEED/FERT

59872 10-11-2016 76,432.92 STATE EMPLOYEES RETM. SYSTEM PLOVICH PA 95-0530 TRANSFER 59873 10-11-2016 4,065.77 SIRIUS Computer Solutions SYMANTEC ENTERPRISE VAULT MAIN

10-11-2016 SIRIUS Computer Solutions BACKBONE UPGRADE10-11-2016 SIRIUS Computer Solutions BACKBONE UPGRADE

59874 10-11-2016 130.49 STAPLES ADVANTAGE COPY PAPER (BLUE) 59875 10-11-2016 2,242.00 TENSION ENVELOPE CORPORATION #10 WINDOW ENVELOPES (1ST 50)

10-11-2016 TENSION ENVELOPE CORPORATION #9 RETURN ENVELOPES (1ST 50) 59876 10-11-2016 606.46 TEPPER ELECTRIC SUPPLY CO. EMERG BACKUP BATT ACCESS CTRL

10-11-2016 TEPPER ELECTRIC SUPPLY CO. ELECTRICAL SUPPLIES 59877 10-11-2016 950.00 TLC Pest Control INSECT EXTERMINATION 59878 10-11-2016 13.98 TRUE VALUE GENERAL HARDWARE 59879 10-11-2016 85.12 UNITED PARCEL SERVICE FREIGHT SEPT26-30 59880 10-11-2016 463.00 CISCO WEBEX, LLC SEPT 2016 VIDEO CONF 59881 10-11-2016 4,500.00 ZAHN GOVERNMENTAL SOLUTIONS SEPT 2016 CONSULTING SVC 59882 10-13-2016 170.00 SUMMARY PAYMENT PRAKASH V. SURS 14 CH 14511 59883 10-13-2016 148.08 AFLAC STAFF PYRL DEDUCTION 59884 10-13-2016 284.00 Aurico AUG 2016 SVC (MALONEY, HOLMES) 59885 10-13-2016 60.00 BRIGHT START COLLEGE SAVINGS WALKER PYRL DEDUCTION 59886 10-13-2016 6,568.96 BURKE BURNS & PINELLI, LTD AUG 2016 LEGAL SVC-GENERAL MAT 59887 10-13-2016 2,324.14 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 59888 10-13-2016 6,049.00 DEF COMP PLAN FUND DEF COM STAFF PYRL DEDUCTION

10-13-2016 DEF COMP PLAN FUND ROTH STAFF PYRL DEDUCTION 59889 10-13-2016 12,705.25 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 59890 10-13-2016 2,116.39 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 59891 10-13-2016 321.46 ILLINOIS STATE DISBURSEMENTS 2012D0001914 YOUNG PYRL DEDUCT 59892 10-13-2016 558.00 ILLINOIS STATE DISBURSEMENTS 14-D-53 DUNCAN PYRL DEDUCTION

Exhibit 3



59893 10-13-2016 175.24 ILLINOIS STATE DISBURSEMENTS 96-D-490 JOHNSON PYRL DEDUCTIO 59894 10-13-2016 64.50 LEXISNEXIS RISK SOLUTIONS SEPT 2016 MIN COMM 59895 10-13-2016 421.91 MYRON CORP. 2017 CALENDARS (150) 59896 10-13-2016 874.75 ROGARDS COPY PAPER 59897 10-13-2016 350.00 SHRED-IT USA SEPT 2016 SHRED SVC 59898 10-13-2016 2,386.00 THOMSON WEST AUG 2016 LEGAL SUBSCRIPTION

10-13-2016 THOMSON WEST SEPT 2016 LEGAL SUBSCRIPTION 59899 10-13-2016 142.50 UNITED PARCEL SERVICE FREIGHT OCT3-7 59900 10-14-2016 224.98 ACE HARDWARE 665 BUILDING MAINT

10-14-2016 ACE HARDWARE 665 BUILDING MAINT 59901 10-14-2016 6,903.24 AMEREN ILLINOIS SEPT 2016 ELECTRIC 59902 10-14-2016 2.50 AMERICAN MESSAGING OCT7 2016 PAGER SVC 59903 10-14-2016 900.00 BLACKMESH HOSTED WEBSITE 59904 10-14-2016 108,510.42 IL DEPT OF CENTRAL MGMT SVCS ER PREMIUM PPE1016 59905 10-14-2016 201.00 DATA IMAGING SUPPLIES PRINTER SUPPLIES 59906 10-14-2016 110.00 HERRIOTT'S COFFEE COMPANY COFFEE SUPPLIES 59907 10-14-2016 133.25 ILLINOIS PRESS ASSOCIATION SEPT 2016 READING FEE & CLIPS 59908 10-14-2016 3,270.86 NEWEGG.COM SUPPLIES

10-14-2016 NEWEGG.COM SUPPLIES10-14-2016 NEWEGG.COM SUPPLIES10-14-2016 NEWEGG.COM SUPPLIES10-14-2016 NEWEGG.COM #6274-78 REPLACEMENT PC'S

59909 10-14-2016 133.00 PIRACLE SIGNATURE ENCRYPTION 59910 10-14-2016 239,649.34 STATE EMPLOYEES RETM. SYSTEM PA-95-0530 ID#50080

10-14-2016 STATE EMPLOYEES RETM. SYSTEM PA-95-0530 ID#50080 59911 10-18-2016 19.50 ABRAHAM LINCOLN LIB FOUNDATION CURTIS-Q3 2016 CONTRIBUTION 59912 10-18-2016 19.50 ALZHEIMER'S ASSOC GREAT IL CHA CURTIS-Q3 2016 CONTRIBUTION 59913 10-18-2016 30.00 AMERICAN RED CROSS DUNN-Q3 2016 CONTRIBUTION 59914 10-18-2016 219.54 AREA DISPOSAL SERVICE, INC. SEPT 2016 TRASH SVC 59915 10-18-2016 30.00 CHAMPAIGN COUNTY CT APPOINTED FITCH-Q3 2016 CONTRIBUTION 59916 10-18-2016 30.00 COURAGE CONNECTION FITCH-Q3 2016 CONTRIBUTION 59917 10-18-2016 90.00 CRISIS NURSERY FITCH-Q3 2016 CONTRIBUTION

10-18-2016 CRISIS NURSERY DUNN-Q3 2016 CONTRIBUTION 59918 10-18-2016 30.00 CYSTIC FIBROSIS FOUNDATION DUNN-Q3 2016 CONTRIBUTION 59919 10-18-2016 30.00 DAILY BREAD SOUP KITCHEN FITCH-Q3 2016 CONTRIBUTION 59920 10-18-2016 90.00 EASTERN ILLINOIS FOODBANK FITCH-Q3 2016 CONTRIBUTION

10-18-2016 EASTERN ILLINOIS FOODBANK DUNN-Q3 2016 CONTRIBUTION 59921 10-18-2016 465.69 NEWEGG.COM SUPPLIES 59922 10-18-2016 60.00 SALT & LIGHT FITCH-Q3 2016 CONTRIBUTION

10-18-2016 SALT & LIGHT DUNN-Q3 2016 CONTRIBUTION 59923 10-18-2016 19.50 STEPHENS FAMILY YMCA CURTIS-Q3 2016 CONTRIBUTION 59924 10-18-2016 60.00 UNITED WAY OF EDGAR COUNTY WILLOUGHBY-Q3 2016 CONTRIBUTIO 59925 10-18-2016 6,654.15 WOOLARD MARKETING CONSULTANTS 2016 ANN RPT AUG18-SEPT30 59926 10-18-2016 266.66 JOSEPH KESLER STALEDATE CHECK 59927 10-20-2016 8,684.32 EXPRESS SERVICES, INC. COOK/BRADFORD/JONES SEPT12-16

10-20-2016 EXPRESS SERVICES, INC. COOK/BRADFORD/JONES SEPT19-2310-20-2016 EXPRESS SERVICES, INC. COOK/BRADFORD/JONES SEPT26-30

59928 10-20-2016 2,342.50 HONEYWELL INC. NOV 2016 TEMP CONTROL 59929 10-20-2016 150.00 NASP-NY AMMONS-OCT17-18 NASP-NY REG 59930 10-20-2016 367.95 NEWEGG.COM SUPPLIES

10-20-2016 NEWEGG.COM #6279-80 MONITORS 59931 10-20-2016 2,382.45 PAETEC SEPT4-OCT3 2016 PHONE SVC 59932 10-20-2016 1,158.20 QUICKSILVER MAILING SERVICES OCT1-15 2016 FLATS POSTAGE 59933 10-20-2016 347.94 ROGARDS COPY PAPER 59934 10-25-2016 99,913.80 SUMMARY PAYMENT MID 55878 - REISSUE PB CHK 59935 10-25-2016 58.98 ACE HARDWARE 665 BUILDING MAINT 59936 10-25-2016 1,243.00 IL DEPT OF CENTRAL MGMT SVCS T2222476 SEPT 2016 ICN INTERNE

10-25-2016 IL DEPT OF CENTRAL MGMT SVCS T6939999 SEPT 2016 INS CONNECT 59937 10-25-2016 314.70 DATA IMAGING SUPPLIES NAPERVILLE PRINTER SUPPLIES

Exhibit 3



59938 10-25-2016 387.00 DYNAMIC CONTROLS, INC. SECURITY SYSTEM LABOR 59939 10-25-2016 2,884.23 EXPRESS SERVICES, INC. COOK/BRADFORD/JONES OCT3-7 59940 10-25-2016 823.73 ILLINOIS AMERICAN WATER SEPT17-OCT17 2016 WATER 59941 10-25-2016 4,801.50 MAYER BROWN LLP JUL 2016 LEGAL SVC-GLADIUS CAP 59942 10-25-2016 582.49 POTTER ELECTRIC SERVICE ELECTRICAL REPAIRS

10-25-2016 POTTER ELECTRIC SERVICE ELECTRICAL REPAIRS10-25-2016 POTTER ELECTRIC SERVICE ELECTRICAL REPAIRS

59943 10-25-2016 245.70 SECOND EXECUTIVE PARK OCT 2016 MOWING SVC 59944 10-25-2016 14,000.00 SIKICH LLP EMPLOYER AUDIT SVC 59945 10-25-2016 249.00 SKILLPATH SEMINARS STAFF TRAINING 59946 10-25-2016 63.36 SPRINGFIELD ELECTRIC SUPPLY ELECTRICAL SUPPLIES 59947 10-25-2016 459.50 STOCKS OFFICE FURNITURE OFFICE FURNITURE 59948 10-25-2016 3,750.00 SUNGARD AVAILABILITY SERVICES DEC 2016 BRS 59949 10-25-2016 492.30 SUPPLYWORKS JANITOR SUPPLIES 59950 10-25-2016 36.90 TEPPER ELECTRIC SUPPLY CO. ELECTRICAL SUPPLIES 59951 10-25-2016 155.99 UNITED PARCEL SERVICE FREIGHT OCT10-14 2016 59952 10-25-2016 1,133.97 VERIZON WIRELESS SEPT16-OCT15 2016 PHONE SVC 59953 10-25-2016 1,082.90 JESSE JOHNSON STALE DATE CHECK

10-25-2016 JESSE JOHNSON STALEDATE CHECK 59954 10-27-2016 30.00 SUMMARY PAYMENT MID #43328 - REFUND RETM SEMIN 59955 10-27-2016 148.08 AFLAC STAFF PYRL DEDUCTION 59956 10-27-2016 1,071.67 AT&T OCT16-NOV15 PHONE SVC 59957 10-27-2016 12,877.50 BLOOMBERG FINANCE L.P. BLOOMBERG TERMINAL

10-27-2016 BLOOMBERG FINANCE L.P. BLOOMBERG ANYWHERE 59958 10-27-2016 60.00 BRIGHT START COLLEGE SAVINGS WALKER PYRL DEDUCTION 59959 10-27-2016 413.91 CG SIGNATURE EVENTS CATERING OCT22 2016 RETM SEM BOX LUNCH 59960 10-27-2016 2,324.14 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 59961 10-27-2016 6,049.00 DEF COMP PLAN FUND DEF COM STAFF PYRL DEDUCTION

10-27-2016 DEF COMP PLAN FUND ROTH STAFF PYRL DEDUCTION 59962 10-27-2016 12,597.25 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 59963 10-27-2016 2,147.58 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 59964 10-27-2016 321.46 ILLINOIS STATE DISBURSEMENTS 2012D0001914 YOUNG PYRL DEDUCT 59965 10-27-2016 558.00 ILLINOIS STATE DISBURSEMENTS 14-D-53 DUNCAN PYRL DEDUCTION 59966 10-27-2016 175.24 ILLINOIS STATE DISBURSEMENTS 96-D-490 JOHNSON PYRL DEDUCTIO 59967 10-27-2016 489.67 WHITNEY JONES JONES-OCT19-20 BD MTG 59968 10-27-2016 174.57 CRAIG MCCROHON MCCROHON-SEPT14-15 BD MTG 59969 10-27-2016 1,138.90 THE NORTHERN TRUST COMPANY OCT 2016 BD MTG CATERING 59970 10-27-2016 2,398.33 RICOH USA INC COMP ROOM B/W PRINTER SVC

10-27-2016 RICOH USA INC COMP ROOM COLOR PRINTER SVC 59971 10-27-2016 3,737.47 STEVEN M PEASE JODI PEASE WAGE & VAC PAYOUT 59972 11-01-2016 16,305.91 AFSCME CHAPTER 31 ANNUITANT DEDUCTION 59973 11-01-2016 4,228.50 AMERICAN UNITED LIFE INS. ANNUITANT DEDUCTION 59974 11-01-2016 7,311.85 BLACK HAWK COLLEGE ANNUITANT DEDUCTION 59975 11-01-2016 108,510.42 IL DEPT OF CENTRAL MGMT SVCS ER PREMIUM PPE102416 59976 11-01-2016 2,727,525.21 IL DEPT OF CENTRAL MGMT SVCS ANNUITANT DEDUCTION 59977 11-01-2016 3,016.00 COOK CO COLLEGE TEACHERS UNION ANNUITANT DEDUCTION 59978 11-01-2016 399.21 ILLINOIS VALLEY COMM COLLEGE ANNUITANT DEDUCTION 59979 11-01-2016 1,224.73 INTERNAL REVENUE SERVICE XXX-XX-0383 NOV 2016 PMT 59980 11-01-2016 1,000.00 INTERNAL REVENUE SERVICE XXX-XX-7143 NOV 2016 PMT 59981 11-01-2016 5,554.76 INTERNAL REVENUE SERVICE XXX-XX-5594 NOV 2016 PMT 59982 11-01-2016 4,876.50 ISEA/RETIREES ANNUITANT DEDUCTION 59983 11-01-2016 753.08 JOHN A LOGAN COLLEGE ANNUITANT DEDUCTION 59984 11-01-2016 1,613.01 LAKE LAND COLLEGE ANNUITANT DEDUCTION 59985 11-01-2016 3.30 MCHENRY COMM COLLEGE INS ANNUITANT DEDUCTION 59986 11-01-2016 5,003.27 PARKLAND COLLEGE ANNUITANT DEDUCTION 59987 11-01-2016 1,150.00 TOMASINE ROMANO XXX-XX-4355 NOV 2016 PMT 59988 11-01-2016 636.49 STAPLES ADVANTAGE OFFICE SUPPLIES


Exhibit 3



59988 11-01-2016 636.49 STAPLES ADVANTAGE OFFICE SUPPLIES11-01-2016 STAPLES ADVANTAGE OFFICE SUPPLIES

59989 11-01-2016 25,660.56 STATE UNIV. ANNUITANTS ASSN. ANNUITANT DEDUCTION 59990 11-01-2016 780.00 TRITON COLLEGE ANNUITANT DEDUCTION 59991 11-01-2016 409.50 UNIVERSITY PROFESSIONALS IL. ANNUITANT DEDUCTION 59992 11-01-2016 1,857.90 UNIVERSITY OF ILLINOIS @00873227 SEPT 2016 CARPOOL 59993 11-01-2016 3,735.00 UNIVER OF IL CAMPUS RECREATION ANNUITANT DEDUCTION 59994 11-01-2016 618.00 UPI-COPE ANNUITANT DEDUCTION 59995 11-01-2016 38.26 UNITED PARCEL SERVICE FREIGHT OCT17-21 2016 59996 11-01-2016 2,992.99 UNITED STATE TREASURY XXX-XX-8400 NOV 2016 PMT 59997 11-01-2016 50.00 US TREASURY XXX-XX-1467 NOV 2016 PMT 59998 11-01-2016 4,386.18 TINA SONDERBY STALEDATE CHECK 59999 11-03-2016 520.00 AREA WIDE REPORTING SERVICE JUL29 2016 CLAIMS PANEL 60000 11-03-2016 840.00 BERWYN GROUP OBITUARY SERVICE 60001 11-03-2016 102.65 CHAMPAIGN DO-IT-BEST HARDWARE GENERAL HARDWARE 60002 11-03-2016 458.96 IL DEPT OF CENTRAL MGMT SVCS S6930000 SEPT 2016 CMS FUNDS 60003 11-03-2016 985.00 COMMERCIAL BUILDERS, INC. BUILDING MAINT 60004 11-03-2016 90.00 EASTERN ILLINOIS FOODBANK DUNN-Q1 2016 CONTRIBUTION

11-03-2016 EASTERN ILLINOIS FOODBANK FITCH-Q1 2016 CONTRIBUTION 60005 11-03-2016 28,350.00 GLASS LEWIS & CO, LLC OCT2016-DEC2016 PROXY RESEARCH 60006 11-03-2016 4,618.00 MALWAREBYTES CORPORATION SEPT2016-17 ENDPOINT SECURITY 60007 11-03-2016 1,006.94 NEWEGG.COM SUPPLIES

11-03-2016 NEWEGG.COM #6282 LENOVO LAPTOP 60008 11-03-2016 1,485.30 NORTHERN ILLINOIS UNIVERSITY OCT20 ROOM RENTAL & CATERING 60009 11-03-2016 3,085.08 PRUDENTIAL GROUP INSURANCE 92631 MAY 2016 STAFF LT DISAB

11-03-2016 PRUDENTIAL GROUP INSURANCE 92631 JUNE 2016 STAFF LT DISAB 60010 11-03-2016 874.75 ROGARDS COPY PAPER 60011 11-03-2016 195.40 UNITED STATES POSTAL SERVICE NAPERVILLE OFFICE POSTAGE 60012 11-03-2016 289.38 WOLTERS KLUWER LAW & BUSINESS GVNMNTL PLANS ANSWER BOOK 60013 11-08-2016 28.17 ACE HARDWARE 665 BUILDING MAINT 60014 11-08-2016 6,476.15 AMEREN ILLINOIS OCT 2016 ELECTRIC SVC 60015 11-08-2016 229.95 CG SIGNATURE EVENTS CATERING NOV8 2016 RET SEM BOX LUNCHES 60016 11-08-2016 22,323.60 COUNCIL INSTITUTIONAL INVESTOR 2017 MEMBERSHIP RENEWAL 60017 11-08-2016 944.00 DAVIS ELECTRIC LIGHT FIXTURE - A140 60018 11-08-2016 317.39 JOHN H. ENGSTROM ENGSTROM-OCT25-26 CIO INTERVIE 60019 11-08-2016 1,319.00 I.D.E.S. BENEFIT REF 60020 11-08-2016 54.35 ILLINOIS AMERICAN WATER NOV 2016 FIRE SVC 60021 11-08-2016 272.89 ALLISON KUSHNER KUSHNER-OCT19-20 BD MTG 60022 11-08-2016 50.00 LEXISNEXIS RISK SOLUTIONS OCT 2016 MINIMUM COMM 60023 11-08-2016 450.00 LINCOLN OFFICE REPAIR OFFICE CHAIRS 60024 11-08-2016 2,625.00 LINKEDIN CORPORATION NOV4-FEB3 2016/7 CORP RECRUITE 60025 11-08-2016 125.00 PIRACLE DIGITIZED SIGNATURE 60026 11-08-2016 210.00 PITNEY BOWES INC. NOV16-FEB15 2016/7 POSTAGE REN 60027 11-08-2016 52.48 PROPIO LANGUAGE SERVICES OCT 2016 INTERP SVC 60028 11-08-2016 1,543.46 PRUDENTIAL GROUP INSURANCE 92631 JULY 2016 STAFF LT DISAB 60029 11-08-2016 1,843.46 QUICKSILVER MAILING SERVICES OCT 2016 POSTAGE (PRESORT)

11-08-2016 QUICKSILVER MAILING SERVICES OCT16-31 2016 FLATS POSTAGE 60030 11-08-2016 11.10 ROGERS SUPPLY COMPANY VENTILATION SUPPLIES 60031 11-08-2016 5,850.00 UNIDESK CORPORATION UNIDESK MAINT 60032 11-08-2016 6,500.00 UPKEEP MAINTENANCE SERVICE OCT 2016 JANITORIAL SVC 60033 11-08-2016 106.26 UNITED PARCEL SERVICE FREIGHT OCT24-28 2016 60034 11-08-2016 450.28 URBANA/CHAMPAIGN SAN DIST SEPT16-OCT17 2016 SEWER 60035 11-08-2016 5,203.00 CISCO WEBEX, LLC OCT 2016 SVC & ANNUAL MAINT 60036 11-08-2016 340.79 THOMAS WILLIAMS STALEDATE CHECK 60037 11-09-2016 4,962.33 SUMMARY PAYMENT MID 56379 - REFUND FOR OVP 60038 11-09-2016 133.92 SUMMARY PAYMENT 15MR936 TRAVEL 60039 11-09-2016 148.08 AFLAC STAFF PYRL DEDUCTION 60040 11-09-2016 60.00 BRIGHT START COLLEGE SAVINGS WALKER PYRL DEDUCTION 60041 11-09-2016 2,264.14 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION

Exhibit 3



60042 11-09-2016 6,059.00 DEF COMP PLAN FUND STAFF PYRL DEDUCTION11-09-2016 DEF COMP PLAN FUND ROTH STAFF PYRL DEDUCTION

60043 11-09-2016 108,819.63 IL DEPT OF CENTRAL MGMT SVCS ER PREMIUM PPE110716 60044 11-09-2016 12,608.25 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 60045 11-09-2016 2,155.32 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 60046 11-09-2016 10,010.00 FEATHERSTUN, GAUMER, POSTLEWAI JUL7-OCT11 2016 GAUMER BNFT MA 60047 11-09-2016 160.25 ILLINOIS PRESS ASSOCIATION OCT 2016 READING FEE & CLIPS 60048 11-09-2016 321.46 ILLINOIS STATE DISBURSEMENTS 2012D0001914 YOUNG PYRL DEDUCT 60049 11-09-2016 558.00 ILLINOIS STATE DISBURSEMENTS 14-D-53 DUNCAN PYRL DEDUCTION 60050 11-09-2016 175.24 ILLINOIS STATE DISBURSEMENTS 96-D-490 JOHNSON PYRL DEDUCTIO 60051 11-09-2016 4,000.00 JANET JONES & ASSOCIATES, INC. OCT 2016 LOBBY SVC 60052 11-09-2016 469.20 THE NEWS GAZETTE OCT9-JOB AD: SR JAVA DEVELOPER 60053 11-09-2016 86,366.00 PARAMETRIC CLIFTON Q3 2016 INVST MGMT FEE 60054 11-09-2016 260.00 SHRED-IT USA OCT 2016 SHRED SVC 60055 11-09-2016 1,193.00 THOMSON WEST AUG 2016 WEST INFORMATION 60056 11-09-2016 615.02 JOAN WHITE STALEDATE CHECK 60057 11-10-2016 362.93 NEWEGG.COM SUPPLIES

11-10-2016 NEWEGG.COM PRINTER FOR S. HAYWARD 60058 11-10-2016 1,057.50 NORTHERN ILLINOIS UNIVERSITY NOV 2016 RENT 60059 11-10-2016 30,000.00 RESERVE ACCOUNT NOV 2016 POSTAGE 60060 11-10-2016 1,414.05 SOFTWARE ONE ADOBE CLOUD LICENSE 60061 11-15-2016 66,750.00 A&R MECHANICAL CONTRACTORS, IN BUILDING AUTOMATION 60062 11-15-2016 15.27 ACE HARDWARE 665 BUILDING MAINT 60063 11-15-2016 220.56 AREA DISPOSAL SERVICE, INC. OCT 2016 TRASH SVC 60064 11-15-2016 900.00 BLACKMESH NOV15-DEC14 2016 HOSTED WEBSIT 60065 11-15-2016 1,495.00 C D S OFFICE TECHNOLOGIES #6284 -COPIER FOR MAILROOM 60066 11-15-2016 173.77 COMCAST CABLE & INTERNET NOV 2016 INTERNET SVC

11-15-2016 COMCAST CABLE & INTERNET NOV 2016 TV SVC 60067 11-15-2016 18,264.67 GABRIEL,ROEDER,SMITH & CO. OCT 2016 RETAINER & GASB 67/68 60068 11-15-2016 216.00 HERRIOTT'S COFFEE COMPANY COFFEE SUPPLIES 60069 11-15-2016 2,342.50 HONEYWELL INC. DEC 2016 TEMP CONTROL 60070 11-15-2016 1,396.00 LEARNQUEST INC. FILE NET TRAINING 60071 11-15-2016 1,374.85 MICRO FOCUS, INC. COBOL & NET EXPRESS SUPPORT 60072 11-15-2016 27.87 NEWEGG.COM SUPPLIES

11-15-2016 NEWEGG.COM SUPPLIES 60073 11-15-2016 2,151.72 PAETEC OCT4-NOV3 2016 PHONE CHARGES 60074 11-15-2016 65.00 UPCLOSE PRINTING BUSINESS CARDS (MARTIN NOVEN) 60075 11-15-2016 6,433.18 FAYE M. GRAYS MID#38188 STALEDATE CHECK 60076 11-15-2016 243.72 ROBERT PEICKERT STALEDATE CHECK 60077 11-15-2016 185.58 BEVERLY NORMAND STALEDATE CHECK 60078 11-15-2016 2,300.92 NELLIE SMITH STALEDATE CHECK 60079 11-15-2016 746.20 YEDULLAH KAZMI STALEDATE CHECK 60080 11-17-2016 605.00 Aurico BACKGROUND CHKS (COOK & VALLE) 60081 11-17-2016 8,407.74 EXPRESS SERVICES, INC. COOK/BRADFORD/JONES OCT10-14

11-17-2016 EXPRESS SERVICES, INC. COOK/BRADFORD/JONES OCT17-2111-17-2016 EXPRESS SERVICES, INC. COOK/BRADFORD/JONES OCT24-28

60082 11-17-2016 27,300.00 GARTNER INC JUL2016-JUN2017 ANNUAL SUBSCRI 60083 11-17-2016 125.00 INSTITUTIONAL INVESTOR JOURNAL OCT19-21 CII RNDTBL JOHNSON 60084 11-17-2016 4,500.00 MINTZ GROUP LLC 7232-752540 MARTIN NOVEN MATTE 60085 11-17-2016 18,255.78 MRC INFORMATION TECHNOLOGY INC KTM DEVELOPMENT 60086 11-17-2016 1,673.64 PITNEY BOWES INC. EQUIPMENT MAINT ANNUAL SVC 60087 11-17-2016 157.50 RELIABLE PLUMB & HEAT COMPANY BUILDING REPAIRS 60088 11-17-2016 10.49 ROGARDS COPY PAPER 60089 11-17-2016 266.95 SECOND EXECUTIVE PARK OCT 2016 TRIM/WEED/FERT SVC

11-17-2016 SECOND EXECUTIVE PARK NOV 2016 MOWING SVC 60090 11-17-2016 1,000.00 SIKICH LLP SEPT 2016 ER AUDIT SVC 60091 11-17-2016 470.56 STAPLES ADVANTAGE SUPPLIES 60092 11-17-2016 1,257.50 TENSION ENVELOPE CORPORATION #10 WINDOW ENVP (50 BOXES) 60093 11-17-2016 57.41 UNITED PARCEL SERVICE FREIGHT OCT31-NOV4 2016

Exhibit 3



60094 11-17-2016 480.13 WATTS COPY SYSTEMS INVSTMNT COPIER SVC 60095 11-17-2016 150.00 GREGG BONELLI STALEDATE CHECK 60096 11-17-2016 1,196.90 STEVEN KAHN STALEDATE CHECK

11-17-2016 STEVEN KAHN STALEDATE CHECK 60097 11-17-2016 200.00 TAMMIE SULLIVAN STALEDATE CHECK 60098 11-22-2016 148.08 AFLAC STAFF PYRL DEDUCTION 60099 11-22-2016 2.50 AMERICAN MESSAGING NOV11 2016 PAGER SVC 60100 11-22-2016 4,200.00 BERWYN GROUP JUL2016-JUN2017 DEATH AUDIT SY 60101 11-22-2016 60.00 BRIGHT START COLLEGE SAVINGS WALKER PYRL DEDUCTION 60102 11-22-2016 8,978.00 CENTRAL IL WINDOWTINTING TINT ATRIUM IN LOBBY 60103 11-22-2016 2,264.14 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 60104 11-22-2016 6,059.00 DEF COMP PLAN FUND DEFCOM STAFF PYRL DEDUCTION

11-22-2016 DEF COMP PLAN FUND ROTH STAFF PYRL DEDUCTION 60105 11-22-2016 108,819.63 IL DEPT OF CENTRAL MGMT SVCS ER PREMIUM PPE112116 60106 11-22-2016 12,608.25 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 60107 11-22-2016 2,155.32 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 60108 11-22-2016 847,245.50 FIDELITY INSTITN'L ASSET MGMT Q2 2016 INVST MGMT FEE

11-22-2016 FIDELITY INSTITN'L ASSET MGMT Q3 2016 INVST MGMT FEE 60109 11-22-2016 6,260.26 HUBER & ASSOCIATES, INC. AS400 ISERIES MAINT 60110 11-22-2016 837.72 ILLINOIS AMERICAN WATER OCT18-NOV15 2016 WATER 60111 11-22-2016 321.46 ILLINOIS STATE DISBURSEMENTS 2012D0001914 YOUNG PYRL DEDUCT 60112 11-22-2016 558.00 ILLINOIS STATE DISBURSEMENTS 14-D-53 DUNCAN PYRL DEDUCTION 60113 11-22-2016 175.24 ILLINOIS STATE DISBURSEMENTS 96-D-490 JOHNSON PYRL DEDUCTIO 60114 11-22-2016 3,083.25 ILLINOIS STATE BOARD OF INVEST Q3 2016 RESTRICTED ENTITIES 60115 11-22-2016 1,340.00 Lazer's Edge Office Automation PRINTER SUPPLIES

11-22-2016 Lazer's Edge Office Automation PRINTER SUPPLIES 60116 11-22-2016 2,000.00 MCLAGAN PARTNERS, INC. PENSION FUND COMPEN SURVEY 60117 11-22-2016 90.00 MICHAELS CATERING NOV18 CLAIMS PANEL BOX MEALS 60118 11-22-2016 36.99 NEWEGG.COM SUPPLIES 60119 11-22-2016 53.59 PITNEY BOWES INC. SUPPLIES 60120 11-22-2016 33.05 SECOND EXECUTIVE PARK OCT 2016 GEESE CONTROL 60121 11-22-2016 3,750.00 SUNGARD AVAILABILITY SERVICES JAN 2017 BRS 60122 11-22-2016 1,662.86 UNIVERSITY OF ILLINOIS @00873227 OCT 2016 CARPOOL 60123 11-22-2016 3,360.00 UNIVERSITY OF IL CATERING 2016 STAFF APPRECIATION LUNCH 60124 11-22-2016 81.80 UNITED PARCEL SERVICE FREIGHT NOV7-11 2016 60125 11-22-2016 1,501.53 WATTS COPY SYSTEMS ADMIN COPIER SVC 60126 11-22-2016 189.95 WORLDSHARP TECHNOLOGIES, INC 1099/1042-S PREPARATION SYSTEM 60127 11-22-2016 266.66 LARRY BELL STALEDATE CHECK 60128 11-22-2016 800.00 SHANNA BOYER STALEDATE CHECK 60129 11-22-2016 1,263.69 RETA MILLER STALEDATE CHECK 60130 11-22-2016 3.74 DUANE MOSSMAN STALEDATE CHECK 60131 11-22-2016 171.00 ELIZABETH CIFANI STALEDATE CHECK 60132 11-29-2016 680.00 ADVANCED DIGITAL MEDIA INC NOV2016-JUN2017 BLUEROOMSTREAM 60133 11-29-2016 1,071.67 AT&T NOV16-DEC15 2016 PHONE SVC 60134 11-29-2016 19,405.32 BURKE BURNS & PINELLI, LTD SEPT 2016 LEGAL SVC-GEN MATTER 60135 11-29-2016 1,243.00 IL DEPT OF CENTRAL MGMT SVCS T2222476 OCT 2016 ICN INTERNET

11-29-2016 IL DEPT OF CENTRAL MGMT SVCS T6939999 OCT 2016 INS CONNECTI 60136 11-29-2016 33.62 CONNOR COMPANY BUILDING MAINT 60137 11-29-2016 30,000.00 HEIDRICK & STRUGGLES EXECUTIVE DIRECTOR SEARCH 60138 11-29-2016 1,500.14 NEWEGG.COM SUPPLIES

11-29-2016 NEWEGG.COM SUPPLIES11-29-2016 NEWEGG.COM SUPPLIES11-29-2016 NEWEGG.COM #6285 - LAPTOP11-29-2016 NEWEGG.COM SUPPLIES

60139 11-29-2016 1,388.55 NORTHERN ILLINOIS UNIVERSITY NOV2 ROOM RENTAL & BOX LUNCHES 60140 11-29-2016 899.45 RICOH USA INC COMP ROOM PRINTER

11-29-2016 RICOH USA INC COMP ROOM B/W PRINTER 60141 11-29-2016 163.44 SIRIUS Computer Solutions BACKBONE UPGRADE 60142 11-29-2016 2,750.00 WORKSRIGHT SOFTWARE, INC. SOFTWARE RENEWAL

Exhibit 3



60143 11-29-2016 400.00 CYNTHIA MUELLER KRON STALEDATE CHECK 60144 11-29-2016 200.00 MARK FIEDLER STALEDATE CHECK 60145 12-01-2016 16,189.91 AFSCME CHAPTER 31 ANNUITANT DEDUCTION 60146 12-01-2016 7,297.00 BLACK HAWK COLLEGE ANNUITANT DEDUCTION 60147 12-01-2016 2,726,280.42 IL DEPT OF CENTRAL MGMT SVCS ANNUITANT DEDUCTION 60148 12-01-2016 3,016.00 COOK CO COLLEGE TEACHERS UNION ANNUITANT DEDUCTION 60149 12-01-2016 4,332.06 HEIDRICK & STRUGGLES CIO SEARCH

12-01-2016 HEIDRICK & STRUGGLES EXECUTIVE DIRECTOR SEARCH12-01-2016 HEIDRICK & STRUGGLES EXECUTIVE DIRECTOR SEARCH

60150 12-01-2016 399.21 ILLINOIS VALLEY COMM COLLEGE ANNUITANT DEDUCTION 60151 12-01-2016 1,224.73 INTERNAL REVENUE SERVICE XXX-XX-0383 DEC 2016 PMT 60152 12-01-2016 1,000.00 INTERNAL REVENUE SERVICE XXX-XX-7143 DEC 2016 PMT 60153 12-01-2016 4,871.00 ISEA/RETIREES ANNUITANT DEDUCTION 60154 12-01-2016 756.00 JACKSON WALKER L.L.P. SEPT 2016 LEGAL SVC-GEN INVEST

12-01-2016 JACKSON WALKER L.L.P. SEPT 2016 LEGAL SVC-FRANKLIN T 60155 12-01-2016 753.08 JOHN A LOGAN COLLEGE ANNUITANT DEDUCTION 60156 12-01-2016 1,613.01 LAKE LAND COLLEGE ANNUITANT DEDUCTION 60157 12-01-2016 16,375.25 MAYER BROWN LLP OCT 2016 LEGAL SVC-14463079

12-01-2016 MAYER BROWN LLP OCT 2016 LEGAL SVC-GLADIUS 60158 12-01-2016 3.30 MCHENRY COMM COLLEGE INS ANNUITANT DEDUCTION 60159 12-01-2016 3,900.00 NASRA JAN 2017-DEC 2017 MEMBERSHIP 60160 12-01-2016 5,160.05 PARKLAND COLLEGE ANNUITANT DEDUCTION 60161 12-01-2016 920.65 QUICKSILVER MAILING SERVICES NOV1-15 2016 FLATS POSTAGE 60162 12-01-2016 3,974.96 RELY CO 2016 IRS FORMS 60163 12-01-2016 419.88 ROGARDS COPY PAPER 60164 12-01-2016 1,150.00 TOMASINE ROMANO XXX-XX-4355 DEC 2016 PMT 60165 12-01-2016 458.94 STAPLES ADVANTAGE OFFICE SUPPLIES


60166 12-01-2016 25,490.67 STATE UNIV. ANNUITANTS ASSN. ANNUITANT DEDUCTION 60167 12-01-2016 780.00 TRITON COLLEGE ANNUITANT DEDUCTION 60168 12-01-2016 411.50 UNIVERSITY PROFESSIONALS IL. ANNUITANT DEDUCTION 60169 12-01-2016 3,758.00 UNIVER OF IL CAMPUS RECREATION ANNUITANT DEDUCTION 60170 12-01-2016 22.00 UPCLOSE PRINTING BUSINESS CARDS (KELLY VALLE) 60171 12-01-2016 618.00 UPI-COPE ANNUITANT DEDUCTION 60172 12-01-2016 170.71 UNITED PARCEL SERVICE FREIGHT NOV14-18 2016

12-01-2016 UNITED PARCEL SERVICE FREIGHT NOV21-25 2016 60173 12-01-2016 2,992.99 UNITED STATE TREASURY XXX-XX-8400 DEC 2016 PMT 60174 12-01-2016 50.00 US TREASURY XXX-XX-1467 DEC 2016 PMT 60175 12-06-2016 49.84 ACE HARDWARE 665 BUILDING MAINT

12-06-2016 ACE HARDWARE 665 BUILDING MAINT 60176 12-06-2016 495.00 AFP D.TAYLOR JAN2017-DEC2017 ANNUA 60177 12-06-2016 11,394.03 BURKE BURNS & PINELLI, LTD OCT 2016 LEGAL SVC-GEN MATTERS 60178 12-06-2016 150.19 CHAMPAIGN DO-IT-BEST HARDWARE GENERAL HARDWARE 60179 12-06-2016 15,750.00 DOCUMENT ACCESS SYSTEMS P8 CASE 5.2 SYSTEM PATCHING 60180 12-06-2016 2,837.12 EXPRESS SERVICES, INC. COOK/BRADFORD/JONES OCT31-NOV4 60181 12-06-2016 383.24 NEWEGG.COM SUPPLIES

12-06-2016 NEWEGG.COM SUPPLIES12-06-2016 NEWEGG.COM SUPPLIES12-06-2016 NEWEGG.COM SUPPLIES

60182 12-06-2016 76.80 PROPIO LANGUAGE SERVICES NOV 2016 INTERP SVC 60183 12-06-2016 4,413.84 PRUDENTIAL GROUP INSURANCE 92631 AUG 2016 STAFF LONG TERM

12-06-2016 PRUDENTIAL GROUP INSURANCE 92631 SEP 2016 STAFF LONG TERM12-06-2016 PRUDENTIAL GROUP INSURANCE 92631 OCT 2016 STAFF LONG TERM

60184 12-06-2016 2,695.71 QUICKSILVER MAILING SERVICES NOV 2016 PRESORT POSTAGE12-06-2016 QUICKSILVER MAILING SERVICES NOV 16-30 2016 FLATS POSTAGE

60185 12-06-2016 347.94 ROGARDS COPY PAPER 60186 12-06-2016 2,445.56 TERRYBERRY STAFF AWARDS

12-06-2016 TERRYBERRY STAFF AWARDS

Exhibit 3



60186 12-06-2016 2,445.56 TERRYBERRY STAFF AWARDS 60187 12-06-2016 6,500.00 UPKEEP MAINTENANCE SERVICE NOV 2016 JANITORIAL SVC 60188 12-06-2016 479.00 CISCO WEBEX, LLC NOV 2016 VIDEO CONF 60189 12-06-2016 14,061.14 WOOLARD MARKETING CONSULTANTS FY2016 ANNUAL REPORT

12-06-2016 WOOLARD MARKETING CONSULTANTS FY2016 ANNUAL REPORT 60190 12-06-2016 33.84 MAVIN EDWARDS STALEDATE CHECK 60191 12-08-2016 592.00 ACL SERVICES LTD JAN2017-DEC2017 RENEWAL 60192 12-08-2016 148.08 AFLAC STAFF PYRL DEDUCTION 60193 12-08-2016 6,661.52 AMEREN ILLINOIS NOV 2016 ELECTRIC 60194 12-08-2016 60.00 BRIGHT START COLLEGE SAVINGS WALKER PYRL DEDUCTION 60195 12-08-2016 2,264.14 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 60196 12-08-2016 29,119.00 DEF COMP PLAN FUND DEFCOM STAFF PYRL DEDUCTION

12-08-2016 DEF COMP PLAN FUND ROTH STAFF PYRL DEDUCTION 60197 12-08-2016 283.15 IL DEPT OF CENTRAL MGMT SVCS S6930000 OCT 2016 CMS FUNDS 60198 12-08-2016 115,541.59 IL DEPT OF CENTRAL MGMT SVCS ER PREMIUM PPE1216 60199 12-08-2016 12,993.50 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 60200 12-08-2016 2,123.77 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 60201 12-08-2016 4,023.52 EXPRESS SERVICES, INC. COOK/BRADFORD/JONES NOV7-11

12-08-2016 EXPRESS SERVICES, INC. BRADFORD/JONES NOV14-18 60202 12-08-2016 54.35 ILLINOIS AMERICAN WATER DEC 2016 FIRE SVC 60203 12-08-2016 321.46 ILLINOIS STATE DISBURSEMENTS 2012D0001914 YOUNG PYRL DEDUCT 60204 12-08-2016 558.00 ILLINOIS STATE DISBURSEMENTS 14-D-53 DUNCAN PYRL DEDUCTION 60205 12-08-2016 175.24 ILLINOIS STATE DISBURSEMENTS 96-D-490 JOHNSON PYRL DEDUCTIO 60206 12-08-2016 50.00 LEXISNEXIS RISK SOLUTIONS NOV 2016 MINIMUM COMMITMENT 60207 12-08-2016 250.00 NAPPA 2017 RENEWAL 60208 12-08-2016 2,816.98 NEWEGG.COM SUPPLIES

12-08-2016 NEWEGG.COM #6286-90 REPLACEMENT PC'S 60209 12-08-2016 17.00 TROPHYTIME NAME TAG (2) 60210 12-08-2016 324.74 ELIZABETH HUSAIN STALEDATE CHECK 60211 12-13-2016 134.64 SUMMARY PAYMENT MID# 1174867- REFUND INS PREM 60212 12-13-2016 10.93 ACE HARDWARE 665 BUILDING MAINT 60213 12-13-2016 219.54 AREA DISPOSAL SERVICE, INC. NOV 2016 TRASH SVC 60214 12-13-2016 173.77 COMCAST CABLE & INTERNET DEC 2016 INTERNET SVC

12-13-2016 COMCAST CABLE & INTERNET DEC 2016 TV SVC 60215 12-13-2016 1,878.00 DAVIS ELECTRIC SECURITY LIGHTING

12-13-2016 DAVIS ELECTRIC MOVE SWITCH LEG 60216 12-13-2016 162.00 HERRIOTT'S COFFEE COMPANY COFFEE SUPPLIES 60217 12-13-2016 134.75 ILLINOIS PRESS ASSOCIATION NOV 2016 READING FEE & CLIPS 60218 12-13-2016 3,500.00 INSTITUTIONAL LIMITED PARTNERS ILPA 2017 MEMBERSHIP 60219 12-13-2016 535.00 NAPPA LEE-2017 NAPPA WINTER REG FEE 60220 12-13-2016 539.60 NEWEGG.COM SUPPLIES

12-13-2016 NEWEGG.COM SUPPLIES12-13-2016 NEWEGG.COM SUPPLIES12-13-2016 NEWEGG.COM SUPPLIES12-13-2016 NEWEGG.COM SUPPLIES12-13-2016 NEWEGG.COM SUPPLIES

60221 12-13-2016 1,057.50 NORTHERN ILLINOIS UNIVERSITY DEC 2016 RENT 60222 12-13-2016 874.75 ROGARDS COPY PAPER 60223 12-13-2016 650.97 SECOND EXECUTIVE PARK SUMMER/FALL 2016 FERTILIZER AP

12-13-2016 SECOND EXECUTIVE PARK NOV 2016 GEESE CONTROL12-13-2016 SECOND EXECUTIVE PARK DEC 2016 MOWING SVC12-13-2016 SECOND EXECUTIVE PARK WINTERIZE IRRIGATION SYSTEM

60224 12-13-2016 280.00 SHRED-IT USA NOV 2016 SHRED SVC 60225 12-13-2016 751.18 STAPLES ADVANTAGE SUPPLIES

12-13-2016 STAPLES ADVANTAGE SUPPLIES 60226 12-13-2016 49.09 UNITED PARCEL SERVICE FREIGHT NOV28-DEC2 2016 60227 12-13-2016 455.63 URBANA/CHAMPAIGN SAN DIST OCT17-NOV15 SEWER SVC 60228 12-15-2016 1,130.87 SUMMARY PAYMENT MID# 67824 - REFUND OVP 60229 12-15-2016 14,531.67 GABRIEL,ROEDER,SMITH & CO. NOV 2016 RETAINER & STRESS TES

Exhibit 3



60230 12-15-2016 2,342.50 HONEYWELL INC. JAN 2017 TEMP CONTROL 60231 12-15-2016 46.20 NEWEGG.COM SUPPLIES 60232 12-15-2016 2,000.81 PAETEC NOV4-DEC3 2016 PHONE SVC 60233 12-15-2016 4,852.00 SAGE SOFTWARE, INC. 2017 SAGE MAINT RENEWAL 60234 12-15-2016 1,100.00 SCRIBE SOFTWARE CORP 2017 SCRIBE SMALL BUS 100 RENE 60235 12-15-2016 24.40 SPRINGFIELD ELECTRIC SUPPLY ELECTRICAL SUPPLIES 60236 12-15-2016 1,768.50 UNIVERSITY OF ILLINOIS @00873227 NOV 2016 CARPOOL 60237 12-15-2016 47.29 BYRON MILLER STALEDATE CHECK 60238 12-20-2016 84.98 ACE HARDWARE 665 BUILDING MAINT 60239 12-20-2016 2.50 AMERICAN MESSAGING DEC9 2016 PAGER SVC 60240 12-20-2016 455.00 AREA WIDE REPORTING SERVICE NOV18 2016 CLAIMS PANEL 60241 12-20-2016 493.55 BLACKMESH HOSTED WEBSITE 60242 12-20-2016 2,000.00 CM FIRST TECHNOLOGIES HEATON-DEC12-16 CA2E TRAINING 60243 12-20-2016 1,095.00 GOV FIN OFFICERS ASSN FY16 CERTIFICATE FEE 60244 12-20-2016 3,076.00 INTEGRITY TECHNOLOGY SOLUTIONS CISCO FIREWALLS MAINT 60245 12-20-2016 342.28 WHITNEY JONES JONES-DEC7-9 BD MTG 60246 12-20-2016 4,750.00 NASIO 2016-17 MBRSHP DUES 60247 12-20-2016 645.00 NASP-CHICAGO IPFC ROOM, FOOD, DRINK COST 60248 12-20-2016 275.88 ROGARDS COPY PAPER 60249 12-20-2016 1.64 ROGERS SUPPLY COMPANY VENTILATION SUPPLIES 60250 12-20-2016 170.00 STOCKS OFFICE FURNITURE LABOR TO MOVE MARTIN'S DESK 60251 12-20-2016 1,193.00 THOMSON WEST NOV 2016 LEGAL SUBSCRIPTION 60252 12-20-2016 190.10 UNITED PARCEL SERVICE FREIGHT DEC5-9 2016 60253 12-22-2016 148.08 AFLAC STAFF PYRL DEDUCTION 60254 12-22-2016 60.00 BRIGHT START COLLEGE SAVINGS WALKER PYRL DEDUCTION 60255 12-22-2016 1,243.00 IL DEPT OF CENTRAL MGMT SVCS T2222476 NOV 2016 ICN INTERNET

12-22-2016 IL DEPT OF CENTRAL MGMT SVCS T6939999 NOV 2016 INS CONNECTI 60256 12-22-2016 2,264.14 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 60257 12-22-2016 14,119.00 DEF COMP PLAN FUND DEFCOM STAFF PYRL DEDUCTION

12-22-2016 DEF COMP PLAN FUND ROTH STAFF PYRL DEDUCTION 60258 12-22-2016 111,508.16 IL DEPT OF CENTRAL MGMT SVCS ER PREMIUM PPE1219 60259 12-22-2016 13,369.75 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 60260 12-22-2016 2,123.03 IL DEPT OF CENTRAL MGMT SVCS STAFF PYRL DEDUCTION 60261 12-22-2016 386.61 ILLINOIS AMERICAN WATER NOV16-DEC15 2016 WATER 60262 12-22-2016 321.46 ILLINOIS STATE DISBURSEMENTS 2012D0001914 YOUNG PYRL DEDUCT 60263 12-22-2016 558.00 ILLINOIS STATE DISBURSEMENTS 14-D-53 DUNCAN PYRL DEDUCTION 60264 12-22-2016 175.24 ILLINOIS STATE DISBURSEMENTS 96-D-490 JOHNSON PYRL DEDUCTIO 60265 12-22-2016 960.00 K&R PAINTING PAINT MARTIN'S OFFICE 60266 12-22-2016 1,853.08 NEWEGG.COM #6291-3 MONITORS

12-22-2016 NEWEGG.COM MONITOR STANDS (14)12-22-2016 NEWEGG.COM #6294-8 MONITORS

60267 12-22-2016 1,033.12 QUICKSILVER MAILING SERVICES DEC1-15 2016 FLATS POSTAGE 60268 12-22-2016 105.00 RELIABLE PLUMB & HEAT COMPANY LABOR FOR HVAC EQUIP IN LOBBY 60269 12-22-2016 7,475.00 ROCK'S EXCAVATING SERVICE LLC REPAIR PARKING LOT 60270 12-22-2016 228.44 STAPLES ADVANTAGE OFFICE SUPPLIES 60271 12-22-2016 3,750.00 SUNGARD AVAILABILITY SERVICES FEB 2017 BRS 60272 12-22-2016 149.28 TEPPER ELECTRIC SUPPLY CO. ELECTRICAL SUPPLIES

12-22-2016 TEPPER ELECTRIC SUPPLY CO. ELECTRICAL SUPPLIES 60273 12-22-2016 346.32 UNITED PARCEL SERVICE FREIGHT DEC12-16 2016 60274 12-22-2016 4,773.08 BETTIE MCGHEE STALE DATE CHECK

12-22-2016 BETTIE MCGHEE STALEDATE CHECK 60275 12-27-2016 470.00 Aurico NOV 2016 SVC (HEATON & BRADFOR 60276 12-27-2016 150.00 PRISM 2016 ANNUAL MEMBERSHIP DUES 60277 12-27-2016 168.20 UNITED STATES POSTAL SERVICE POSTAGE FOR NAPERVILLE 60278 12-27-2016 900.00 REVOCABLE TRUST IRVING KRAUSS STALEDATE CHECK 60279 12-29-2016 1,071.67 AT&T DEC16 2016-JAN15 2017 PHONE SV 60280 12-29-2016 210.00 FE MORAN INC. JAN-MAR 2017 ALARM SVC 60281 12-29-2016 754.26 RICOH USA INC PRINTER SUPPLIES

12-29-2016 RICOH USA INC COMP ROOM B/W PRINTER SVC

Exhibit 3



60281 12-29-2016 754.26 RICOH USA INC COMP ROOM COLOR PRINTER SVC 60282 12-29-2016 725.56 STAPLES ADVANTAGE OFFICE SUPPLIES


11,867,191.50

Exhibit 3

STATE UNIV RETIREMENT SYSTEM Page 102-11-2017

Payment date from: 10-01-2016 Payment date to: 12-31-2016

NTAP ElectronicACCOUNTS PAYABLE

Payment Payment Amount Payee DescriptionReference Date Vendor Paid

0001327 10-03-2016 BRIDGESLEE 26.00 LEE BRIDGES BRIDGES-SEPT14-0001328 10-03-2016 CITYCOLLEG 337,522.89 CITY COLLEGES OF CHICAGO ANNUITANT DEDUC0001329 10-03-2016 JEONGANDY 462.90 ANDY JEONG JEONG-CPA EXAM 0001330 10-05-2016 ADAMSSTREE 106,250.00 ADAMS STREET PARTNERS, LP Q3 2016 MGMT IN0001331 10-05-2016 ICCTA 600.00 ICCTA OCT 2016 SUBLEA0001332 10-05-2016 PLANTS 130.00 PLANTS ETC SEPT 2016 PLANT0001333 10-05-2016 RAMOSALEX 430.20 ALEX RAMOS RAMOS-AIRFARE N0001334 10-07-2016 CROSSTOM 483.92 TOM CROSS CROSS-SEPT14-160001335 10-07-2016 CULLENDENN 278.77 DENNIS A CULLEN CULLEN-SEPT15-10001336 10-07-2016 MARCO 12,062.50 MARCO CONSULTING GROUP Q3 2016 PROXY V0001337 10-07-2016 MAYERSUZAN 465.20 SUZANNE MAYER MAYER-AIRFARE O0001338 10-07-2016 ROCKSTEVEN 384.60 STEVEN ROCK ROCK-SEPT14-16 0001339 10-12-2016 Ativo 177,666.67 ATIVO CAPITAL MANAGEMENT Q3 2016 INVST M0001340 10-12-2016 MILLERDORI 370.41 DORINDA MILLER MILLER-SEPT6-7 0001341 10-14-2016 BAUERCYNTH 110.25 CYNTHIA A. BAUER BAUER-SEPT29-300001342 10-14-2016 BLISSARDD 18.47 DAWN BLISSARD BLISSARD-SEPT270001343 10-14-2016 DUNCANJO 355.20 JOSEPH DUNCAN DUNCAN-AIRFARE 0001344 10-14-2016 PIEDMONTIN 191,417.81 PIEDMONT INVESTMENT ADVISORS Q3 2016 INVST M0001345 10-14-2016 WESLEYDOUG 273.24 DOUG WESLEY WESLEY-OCT2-5 N0001346 10-14-2016 WINFREYAND 139.01 ANDREA JORDAN JORDAN-OCT4-5 C0001347 10-19-2016 CHANNINGCA 92,207.82 CHANNING CAPITAL MANAGEMENT Q3 2016 INVST M0001348 10-19-2016 EARNESTPAR 143,645.44 EARNEST PARTNERS, LLC Q3 2016 INVST M0001349 10-19-2016 MESIROWFIN 208,944.60 MESIROW FINANCIAL INVESTMENT Q3 2016 INVST M0001350 10-19-2016 MS PEST CT 45.00 M & S PEST CONTROL OCT 2016 PEST C0001351 10-19-2016 SMITHGRAHA 43,577.00 SMITH GRAHAM & CO. Q3 2016 INVST M0001352 10-19-2016 SPOC LLC 2,371.52 SPOC LLC OCT 2016 PHONE 0001353 10-19-2016 STRATEGICG 238,926.83 STRATEGIC GLOBAL ADVISORS Q3 2016 INVST M0001354 10-19-2016 WALKERP 100.00 PHYLLIS WALKER WALKER-SAMS CLU0001355 10-21-2016 PUGHCAPITA 62,155.52 PUGH CAPITAL MANAGEMENT Q3 2016 INVST M0001356 10-21-2016 TAVE&ASSOC 790.00 TAVE & ASSOCIATES BTA RENEWAL OCT0001357 10-26-2016 BLISSARDD 16.42 DAWN BLISSARD BLISSARD-OCT11-0001358 10-26-2016 CLARIONCRA 347,507.11 CBRE CLARION REAL ESTATE SEC. Q3 2016 INVST M0001359 10-26-2016 CROSSTOM 48.60 TOM CROSS CROSS-OCT20 INV0001360 10-26-2016 DROZDZ JAM 272.61 JAMES DROZDZ DROZDZ-OCT4-5 C0001361 10-26-2016 GH&A 61,070.23 GARCIA HAMILTON & ASSOC Q3 2016 INVST M0001362 10-26-2016 GIERTZFRED 387.20 J. FRED GIERTZ GIERTZ-OCT19-200001363 10-26-2016 GLOBEFLEX 209,448.63 GLOBEFLEX CAPITAL, L.P. Q3 2016 INVST M0001364 10-26-2016 GREENBIANC 356.89 BIANCA T GREEN GREEN-OCT19-20 0001365 10-26-2016 HOLLANDCAP 74,257.48 HOLLAND CAPITAL MANAGEMENT LLC Q3 2016 INVST M0001366 10-26-2016 KERNLORI 1,571.87 LORI KERN KERN-OCT19-20 B0001367 10-26-2016 LMCAPGRP 70,541.42 LM CAPITAL GROUP Q3 2016 INVEST 0001368 10-26-2016 ORMONDBRAN 43.42 BRANDON ORMOND ORMOND-SEPT19-O0001369 10-26-2016 PACIFICINV 878,840.32 PACIFIC INVESTMENT CO. Q3 2016 TIPS IN0001370 10-26-2016 RAMOSALEX 294.89 ALEX RAMOS RAMOS-OCT19-20 0001371 10-26-2016 RHUMBLINE 32,251.23 RHUMBLINE ADVISERS Q3 2016 INVST M0001372 10-26-2016 WESLEYDOUG 312.89 DOUG WESLEY WESLEY-OCT19-200001373 10-26-2016 WILLOUGHBY 334.89 SHANE WILLOUGHBY WILLOUGHBY-OCT10001374 10-28-2016 HOUCHKRIST 578.93 KRISTEN HOUCH HOUCH-OCT19-20 0001375 10-28-2016 WESLEYDOUG 65.98 DOUG WESLEY WESLEY-SEPT/OCT0001376 10-31-2016 BLACKROCK 524,897.96 BLACKROCK INST TRUST CO. Q3 2016 INVST M0001377 10-31-2016 LONGFELLOW 20,753.69 LONGFELLOW INVEST. MGMT CO. Q3 2016 INVST M0001378 10-31-2016 PROGINVEST 477,370.35 PROGRESS INVESTMENT MGMT CO. Q3 2016 INVST M0001379 10-31-2016 UBSGLOBAL 117,837.93 UBS GLOBAL ASSET MANAGEMENT Q3 2016 INVST M0001380 10-31-2016 WELLINGTON 621,619.91 WELLINGTON MANAGEMENTCOMPANY Q3 2016 INVST M0001381 11-02-2016 BAUERCYNTH 198.50 CYNTHIA A. BAUER BAUER-OCT18-20 0001382 11-02-2016 BRANSONMAR 198.50 MARILYN BRANSON BRANSON-OCT18-20001383 11-02-2016 CITYCOLLEG 334,490.30 CITY COLLEGES OF CHICAGO ANNUITANT DEDUC0001384 11-02-2016 DROZDZ JAM 90.23 JAMES DROZDZ DROZDZ-OCT11 BE

Exhibit 3





0001385 11-02-2016 HAYWARDS 105.40 STEVE HAYWARD HAYWARD-OCT25-20001386 11-02-2016 ICCTA 600.00 ICCTA NOV 2016 SUBLEA0001387 11-02-2016 JOHNSONM 198.50 MARLYS M. JOHNSON JOHNSON-OCT18-20001388 11-02-2016 METWESTASS 215,429.86 METROPOLITAN WEST ASSET MAN. Q3 2016 INVST M0001389 11-02-2016 MONDRIAN 225,342.76 MONDRIAN INVESTMENT PARTNERS Q3 2016 INVST M0001390 11-02-2016 POLLITTKIM 310.12 KIM POLLITT POLLITT-OCT19-20001391 11-02-2016 TAYLORD 105.40 W. DOUGLAS TAYLOR TAYLOR-OCT25-260001392 11-02-2016 TECHOLARN 112.40 METHAWEE SPRINGFIELD TECHOLARN-OCT250001393 11-02-2016 VASQUEZANT 356.58 ANTONIO A. VASQUEZ VASQUEZ-SEPT14-0001394 11-02-2016 WALKERP 1,137.50 PHYLLIS WALKER WALKER-OCT19-200001395 11-02-2016 WILLOUGHBY 656.18 SHANE WILLOUGHBY WILLOUGHBY-OCT20001396 11-04-2016 CROSSTOM 99.36 TOM CROSS CROSS-OCT25-26 0001397 11-04-2016 DUNNB 123.47 BRENDA DUNN DUNN-OCT27-28 I0001398 11-04-2016 MAYERSUZAN 1,038.24 SUZANNE MAYER MAYER-OCT22-26 0001399 11-04-2016 NEWCENTURY 56,943.59 NEW CENTURY ADVISORS Q3 2016 INVST M0001400 11-04-2016 PLANTS 130.00 PLANTS ETC OCT 2016 PLANT 0001401 11-04-2016 ROCKSTEVEN 62.90 STEVEN ROCK ROCK-OCT19-20 B0001402 11-04-2016 WILLOUGHBY 29.00 SHANE WILLOUGHBY WILLOUGHBY-OCT10001403 11-07-2016 CASTLEARK 244,440.48 CASTLEARK MANAGEMENT LLC Q3 2016 INVST M0001404 11-07-2016 EVANSJIM 157.49 JIM EVANS EVANS-OCT12-13 0001405 11-07-2016 JOHNSONM 157.49 MARLYS M. JOHNSON JOHNSON-OCT12-10001406 11-07-2016 NEUBERGER 157,255.62 NEUBERGER BERMAN Q3 2016 INVST M0001407 11-07-2016 ORMONDBRAN 39.07 BRANDON ORMOND ORMOND-OCT17-NO0001408 11-09-2016 AMMONSAARO 2,476.22 AARON AMMONS AMMONS-SEPT27-20001409 11-09-2016 BLISSARDD 10.26 DAWN BLISSARD BLISSARD-OCT31-0001410 11-09-2016 BRIDGESLEE 178.01 LEE BRIDGES BRIDGES-OCT12-20001411 11-09-2016 GONESCINDY 293.40 CINDY GONES GONES-GO TO MY 0001412 11-09-2016 LOMBARDIA 57,749.76 LOMBARDIA CAPITAL PARTNERS.INC Q3 2016 INVST M0001413 11-14-2016 FELLERS JO 688.16 JOEL FELLERS FELLERS-NOV1-5 0001414 11-14-2016 GONESCINDY 165.00 CINDY GONES GONES-ISACA SUB0001415 11-14-2016 MATTHEWS 28.92 ANDREW MATTHEWS MATTHEWS-BREAKR0001416 11-16-2016 BRANSONMAR 139.01 MARILYN BRANSON BRANSON-NOV2-3 0001417 11-16-2016 CAMPBELLB 198.63 BYRON CAMPBELL CAMPBELL-COMPUT0001418 11-16-2016 DROZDZ JAM 139.01 JAMES DROZDZ DROZDZ-NOV2-3 C0001419 11-16-2016 DUNCANJO 380.14 JOSEPH DUNCAN DUNCAN-NOV9-10 0001420 11-16-2016 SMITHSTACY 24.94 STACY SMITH SMITH-NOV15 ANN0001421 11-16-2016 STATESTREE 15,814.84 STATE STREET GLOBAL ADVISORS Q3 2016 INVST M0001422 11-16-2016 TECHOLARN 195.00 METHAWEE SPRINGFIELD TECHOLARN-CFE A0001423 11-16-2016 WALKERP 29.86 PHYLLIS WALKER WALKER-PRIMER F0001424 11-16-2016 WINFREYAND 142.87 ANDREA JORDAN JORDAN-NOV2-4 C0001425 11-18-2016 BAUERCYNTH 408.10 CYNTHIA A. BAUER BAUER-NOV26-27 0001426 11-18-2016 CAMPBELLB 315.00 BYRON CAMPBELL CAMPBELL-DIGITA0001427 11-18-2016 CHILDRESST 375.00 TRACY L. CHILDRESS CHILDRESS-LYNDA0001428 11-18-2016 MS PEST CT 45.00 M & S PEST CONTROL NOV 2016 PEST C0001429 11-18-2016 TAYLORD 1,175.17 W. DOUGLAS TAYLOR TAYLOR-NOV6-14 0001430 11-23-2016 BLISSARDD 16.42 DAWN BLISSARD BLISSARD-NOV7-10001431 11-23-2016 ICCTA 600.00 ICCTA DEC 2016 SUBLEA0001432 11-23-2016 SPOC LLC 2,213.88 SPOC LLC NOV 2016 PHONE 0001433 11-30-2016 CHICAGOEQ 143,244.68 CHICAGO EQUITY PARTNERS LLC Q3 2016 INVST M0001434 11-30-2016 EVANSJIM 117.10 JIM EVANS EVANS-NOV2-3 CO0001435 11-30-2016 HEATONMARY 613.75 MARY JANE HEATON HEATON-AIRFARE 0001436 11-30-2016 PANTHEONVE 467,899.15 PANTHEON VENTURES US LLP Q1 2016 INVST M0001437 11-30-2016 RAMOSALEX 603.03 ALEX RAMOS RAMOS-NOV14-16 0001438 11-30-2016 TECHOLARN 1,100.67 METHAWEE SPRINGFIELD TECHOLARN-NOV2-0001439 12-02-2016 CITYCOLLEG 332,468.51 CITY COLLEGES OF CHICAGO ANNUITANT DEDUC0001440 12-02-2016 DELORIEABR 17.00 BRIAN DELORIEA DELORIEA-NOV30 0001441 12-02-2016 DUNCANJO 54.00 JOSEPH DUNCAN DUNCAN-NOV30 IL0001442 12-02-2016 GONESCINDY 199.95 CINDY GONES GONES-EXPERTS E

Exhibit 3





0001443 12-02-2016 VALLEKELLY 17.00 KELLY VALLE VALLE-NOV30 IL 0001444 12-02-2016 WILLOUGHBY 17.00 SHANE WILLOUGHBY WILLOUGHBY-NOV30001445 12-05-2016 HAYWARDS 1,156.69 STEVE HAYWARD HAYWARD-NOV5-120001446 12-05-2016 MILLERDORI 998.66 DORINDA MILLER MILLER-OCT25-260001447 12-05-2016 WESLEYDOUG 17.00 DOUG WESLEY WESLEY-NOV30 IL0001448 12-07-2016 BLISSARDD 10.26 DAWN BLISSARD BLISSARD-NOV18-0001449 12-07-2016 GREENBIANC 385.00 BIANCA T GREEN GREEN-2017 ATTR0001450 12-07-2016 JOHNSONM 219.50 MARLYS M. JOHNSON JOHNSON-NOV17-10001451 12-07-2016 ORMONDBRAN 30.39 BRANDON ORMOND ORMOND-NOV7-23 0001452 12-07-2016 PLANTS 130.00 PLANTS ETC NOV 2016 PLANT 0001453 12-07-2016 VERIZONPA 1,470.64 VERIZON WIRELESS OCT16-NOV15 2010001454 12-09-2016 NORTRUST 41,566.37 THE NORTHERN TRUST COMPANY Q3 2016 INVST M0001455 12-09-2016 RASCHERDA 71.98 DALE RASCHER IPAD KEYBOARDS 0001456 12-09-2016 TROWEPRICE 692,615.67 T. ROWE PRICE Q3 2016 INVST M0001457 12-12-2016 FLOWER FUN 2,673.00 FLOWER FUND B DUNN & S GORDON 2016 HOLIDAY PA0001458 12-14-2016 CAMPBELLB 121.85 BYRON CAMPBELL CAMPBELL-LICENS0001459 12-14-2016 POLLITTKIM 1,019.04 KIM POLLITT POLLITT-DEC8 IN0001460 12-14-2016 SPOC LLC 2,267.86 SPOC LLC DEC 2016 PHONE 0001461 12-14-2016 WILLOUGHBY 214.84 SHANE WILLOUGHBY WILLOUGHBY-DEC80001462 12-16-2016 CROSSTOM 97.20 TOM CROSS CROSS-DEC8-9 BD0001463 12-16-2016 HAYWARDS 355.68 STEVE HAYWARD HAYWARD-DEC8-9 0001464 12-16-2016 HOUCHKRIST 945.22 KRISTEN HOUCH HOUCH-DEC6-12 G0001465 12-16-2016 KERNLORI 417.18 LORI KERN KERN-DEC8-9 BD 0001466 12-16-2016 KUSHNERALL 267.04 ALLISON KUSHNER KUSHNER-DEC8-9 0001467 12-16-2016 MATTHEWS 605.10 ANDREW MATTHEWS MATTHEWS-DEC8-90001468 12-16-2016 WALKERP 184.84 PHYLLIS WALKER WALKER-DEC8 BD 0001469 12-16-2016 WESLEYDOUG 483.18 DOUG WESLEY WESLEY-DEC8-9 B0001470 12-19-2016 FELLERS JO 116.00 JOEL FELLERS FELLERS-NOV2-4 0001471 12-19-2016 JANETJONE 4,000.00 JANET JONES & ASSOCIATES, INC. NOV 2016 LOBBY 0001472 12-19-2016 ORMONDBRAN 34.73 BRANDON ORMOND ORMOND-NOV28-DE0001473 12-20-2016 TAVE&ASSOC 1,186.00 TAVE & ASSOCIATES BUILDERS RISK I0001474 12-21-2016 BLISSARDD 20.52 DAWN BLISSARD BLISSARD-DEC6-10001475 12-21-2016 MS PEST CT 45.00 M & S PEST CONTROL DEC 2016 PEST S0001476 12-21-2016 ZAHNGOVSOL 9,000.00 ZAHN GOVERNMENTAL SOLUTIONS OCT 2016 CONSUL0001477 12-23-2016 AMMONSAARO 406.68 AARON AMMONS AMMONS-DEC18-190001478 12-23-2016 KERNLORI 1,890.00 LORI KERN KERN-TUITION (L0001479 12-28-2016 UPKEEPMAIN 6,500.00 UPKEEP MAINTENANCE SERVICE DEC 2016 JANITO0001480 12-28-2016 VERIZONPA 1,118.66 VERIZON WIRELESS NOV16-DEC15 2010001481 12-30-2016 PLANTS 135.20 PLANTS ETC DEC 2016 PLANT 0001482 12-30-2016 TAVE&ASSOC 893.00 TAVE & ASSOCIATES BUILDERS INS EX

Payment Account Total 8,106,525.98*Payment Type Total 8,106,525.98*

Report Total 8,106,525.98*

Exhibit 3

Exhibit 3

March 2017

Freedom of Information Act Requests Received Since Last Report: Date

Received Name Affiliation

(if any) Information Requested Date Responded

Commercial

Request? F17-24 12/8/16

Karina Zinkiewicz

PEI Alternative Insight

Requested Names and vintage years of all closed-ended alternative funds (private equity, venture capital, mezzanine, distressed, real estate, real assets, natural resources, debt and infrastructure) in your institution’s portfolio • Date when each commitment was made • Commitment amount made to each partnership • Contributions drawn down since inception and date the calculation was made • Distributions made to your institution to date by each individual partnership and date the calculation was made • Net Asset Value of each partnership and date the calculation was made • Internal rates of return since inception for each individual partnership and date the calculation was made • Investment multiple for each individual partnership and date the calculation was made • Total management fees and costs paid for each individual partnership as percentage of committed capital • Hurdle rate set by each fund’s general partner • Proportion of carried interest which will be charged at the end of the fund life • Key investment professionals listed for each partnership • Names of all partnerships partially and fully sold by you including date of sale

12/12/16 YES

F17-25 12/9/16

Kristin Danley-Greiner

KSDG Communications

Requested how many uncollectible overpayments were there (and in what timeframe, i.e. so far in 2016)? 2. What is the total dollar figure for the overpayments? 3. How does this figure compare to previous years? (assuming this is an ongoing scenario) 4. Are there overpayment recovery efforts in the works or a system established to address compensating for the uncollectible overpayments? 5. As background information, how do these overpayments occur? 6. Do the uncollectible overpayments impact taxpayers in any way? 7. Is it possible to prevent this from happening in the future?

12/15/16 No

F17-26 12/12/16

Haley Parker PREQIN Requested distribution data as of June 30, 2016. 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

12/15/16 YES

F17-27 12/15/16

Jodi Cohen Chicago Tribune Requested annuity amount and effective date of an annuitant. 12/15/16 No

Exhibit 4

F17-28 12/20/16

Todd Green Talcott Franklin Requested copies of records that show holdings of the State Universities Retirement System of Illinois, including the quantity and class(es) of certificates acquired and the date(s) of acquisition, in any of the residential mortgage-backed securities trusts identified below for Impac and Nomura: The relevant Impac trusts are:

· Impac Secured Assets Corp. Mortgage Pass-Through Certificates Series 2005-1 · Impac Secured Assets Corp. Mortgage Pass-Through Certificates Series 2005-2 · Impac Secured Assets Corp. Mortgage Pass-Through Certificates Series 2006-1 · Impac Secured Assets Corp. Mortgage Pass-Through Certificates Series 2006-2 · Impac Secured Assets Corp. Mortgage Pass-Through Certificates Series 2006-3 · Impac Secured Assets Corp. Mortgage Pass-Through Certificates Series 2006-4 · Impac Secured Assets Corp. Mortgage Pass-Through Certificates Series 2006-5 · Impac Secured Assets Corp. Mortgage Pass-Through Certificates Series 2007-1 · Impac Secured Assets Corp. Mortgage Pass-Through Certificates Series 2007-2 · Impac Secured Assets Corp. Mortgage Pass-Through Certificates Series 2007-3

The relevant Nomura trusts are: · Nomura Home Equity Loan, Inc. Asset-Backed Certificates, Series 2006-AF1 · Nomura Home Equity Loan, Inc. Asset-Backed Certificates, Series 2006-FM1 · Nomura Home Equity Loan, Inc. Asset-Backed Certificates, Series 2006-FM2 · Nomura Home Equity Loan, Inc. Asset-Backed Certificates, Series 2006-HE1 · Nomura Home Equity Loan, Inc. Asset-Backed Certificates, Series 2006-HE2 · Nomura Home Equity Loan, Inc. Asset-Backed Certificates, Series 2006-HE3 · Nomura Home Equity Loan, Inc. Asset-Backed Certificates, Series 2007-1 · Nomura Home Equity Loan, Inc. Asset-Backed Certificates, Series 2007-2 � Nomura Home Equity Loan, Inc. Asset-Backed Certificates, Series 2007-3

12/22/16 YES Exhibit 4

F17-29 1/5/17

David Philpott Proxy Insight Requested proxy voting records for the period of October 1st 2015 to November 30th 2016. For the avoidance of doubt, I am referring to the investments made by the Retirement System rather than any electoral voting. Ideally, wanted the following information in electronic format: � Name of Issuer � Issuer Identifier e.g. Ticker or CUSIP � 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 the State Universities Retirement System of Illinois has its own proxy voting policy or whether you use that of an external provider (Please Name).

2/14/17 Yes

F17-30 1/5/17

Chris Nagus News 4 St Louis KMOV

Requested a list of all retired employees receiving a state funded pension and the monthly amount of each.

1/10/17 No

F17-31 1/18/17

Steven Schupbach

Open the Books Requested a list of retired employees for the year 2016. This data should include, but is not limited to the following items: first name, last name, monthly annuity amount, retirement date, employer name, total pension contributions, and total reported wages.

1/26/17 No

F17-32 1/18/17

Steven Schupbach

Open the Books Requested a list of active employees for the year 2016. This data should include, but is not limited to the following items: first name, last name, pensionable wages and employer name

1/23/17 No

F17-33 1/18/17

Cecilia Banares

Secondary Link Requested names of all limited partnerships (e.g. private equity, real estate, hedge fund, infrastructure and timber funds) your institution owns.

(2) Sizes of all the limited partnerships (3) Vintage years of all the limited partnerships (4) Most updated information available on amount committed to the

partnerships and amount drawn by the partnerships. (5) Distributions made by each individual partnership. (6) Net Asset Value of each partnership. (7) Internal rates of return (IRRs), TVPIs/Multiples, and DPI for each individual

partnership, for the most recent date available. (Please specify whether the data is net or gross of expenses and fees.)

(8) Date as of which all the above data was calculated.

1/26/17 Yes

F17-34 1/19/17

Jodi Cohen Chicago Tribune Requested first name and last name, Certification date, Benefit Begin Date, Age, PEP status, Retirement Employer Name, Current monthly benefit, Contributions, Interest on Contributions, SURS service years, Sick Leave Service years, Final Rate of Earnings, Reciprocal System, and Reciprocal Service Years.

1/26/17 No

F17-35 1/19/17

Jodi Cohen Chicago Tribune Requested a copy of the file for a SURS annuitant. Extension to 2/2/17. Response sent 2/10/17

No

F17-36 1/25/17

Rob Herguth Chicago Sun Times

Requested billing invoices for Jan 2012 through the present for outside counsel. 2/1/17 Yes

Exhibit 4

F17-37 2/16/17

Jarek Rutecki Better Government Association

Requested pension data that provides salary at retirement, retirement date, annual pension for all current recipients, years of service and first and last names of all retirement and survivor annuity recipients.

2/22.17 No

F17-38 2/16/17

Brendan Bakala

Illinois Policy Institute

Requested data on all retired members of SURS, including: full name, current age and/or birth date/year, gender, membership tier, annuity type (regular, reversionary, etc., start date, retirement date, last employer or place of work, if available, total years of creditable service, in total and broken down into regular, reciprocal, sick leave, sabbatical and any other form of credit, etc., final pensionable salary, as used to determine starting pension, final annual salary in last year of service, starting monthly pension benefit, current monthly pension benefit, total amount in pension payments made to retiree so far, and total contributions made to the pension system by retiree over the course of their career.

Extension to 3/2/17

No

Exhibit 4

To: SURS Board of Trustees From: Angela Lieb, Director of Member Services Date: February 24, 2017 Re: Member Services Division Reports

Fiscal year to date, staff has processed over 2,600 total claims. This includes lump sum refunds, retirements, disabilities and death/survivor benefits. Of the 1,480 finalized retirement claims, 33% were highest under Money Purchase; 59% General Formula and 8% other (minimum annuity, police/fire formula). The average age at retirement was 63 and the average length of service was 20.12 years. The average monthly annuity was approximately $2,300. This fiscal year, lump sum payouts for excess service/contribution waivers, survivor contribution refunds and portable lump sum retirements totaled over $29.7 million. As part of our strategic objective to improve customer self-service tools, staff continues to test the enhanced on-line claim status program. This will allow new annuitants to better track the status of their retirement claim. We expect implementation of this enhancement by the end of the fiscal year.

Exhibit 5

All aspects of administration of the State Universities Retirement System (SURS), including but not limited to benefit calculation and payment, must comply with state and federal law. No employee of SURS has the authority to bind the System to take action contrary to law, even in the event of misstatement of fact or law. Furthermore, while this letter states SURS’s current understanding of the law, this could change as a result of court opinions, statutory changes, or other matters (e.g., Attorney General opinions). Accordingly, SURS is required under law to correct any mistake in benefit amount, even after payments have begun. Use of any information from this letter, form, or any other document provided by SURS is for general information only and does not represent personal tax or legal advice either express or implied. You must seek professional legal or tax advice for personal income tax questions and other legal assistance.

To: SURS Board of Trustees From: Keith Johnson, SMP Manager Date: February 28, 2017 Re: Self‐Managed Plan (SMP) Update, Quarter Ending December 31, 2016 _____________________________________________________________________________________ Overview As of December 31, 2016 the average SMP participant’s account balance was $91,063 based on 20,342 participants ‐ 13,110 active and 7,232 terminated ‐ with participants’ investments totaling $1,852,421,592. 60% of participants’ assets were invested with Fidelity and 40% with TIAA‐CREF. The average participant is invested in 3.4 funds.

Since January 1, 2011, 7,839 (18.4%) of the 42,564 TIER II new hires chose the SMP. 9.9% chose Traditional, 23.% Portable and 48.7% Defaulted to Traditional. 15.8% of all active SURS participants are in the Self‐Managed Plan, 22.9% Portable, 15.6% Traditional, 41.5% Traditional by default and 4.2% No Election.

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

SMP PARTICIPANTS AND AVERAGE ACCOUNT BALANCES as of December 31, 2016

Avg Account BalanceParticipants

Exhibit 6

February 28, 2017 Page 2

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

0%

10%

20%

30%

40%

50%

60%

70%

80%

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 3 4

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Year / Calendar Qtr

10 yr. SURS Plan Elections by Quarter

Default PortableSMP TraditionalTraditional + Default

4,6718,075

7,02415,277 35,047

8,09010,688

6,03218,692 43,502

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Traditional Portable SMP Default Total

ACTIVE SURS PARTICIPANTSACADEMIC vs STAFF as of December 31, 2016

Academic Staff

Exhibit 6


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

Education- In the 4th Quarter 78 members with 1 on 1 counseling. An SMP webinar, “Navigating the Self‐Managed Plan”, was presented on November 30th with 87 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 February 9, 2017.

10,135 14,667 9,470 21,417 55,689

2,983 4,294 3,49112,929

23,697

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 December 31, 2016

Full Time Part Time

Exhibit 6


Self Managed Plan Distributions Quarter ending December 31, 2016 Non-Retirement eligible: Total Non-Retirement eligible 258 $ 6,606,396

Fixed period 54 $ 28,391 Lump sum 75 $ 1,391,949 Rollovers 125 $ 4,581,585 QILDRO 1 $ 604,471

Retirement eligible: Total Retirement eligible 66 $ 6,283,991

Annuities 12 $ 1,669,386 Fixed period 24 $ 45,496 Lump sum 8 $ 878,284 Rollovers 22 $ 3,690,825 QILDRO 0 $

Death benefits: Total Death benefits 7 $ 191,699 Annuity 0 $

Lump sum 4 $ 146,532 Rollovers 3 $ 45,167

Total: 331 $ 13,082,086

Exhibit 6