Legislation

Please note: SURS does not endorse specific pension reform legislation. Our goal is to update and educate SURS members concerning legislation that may affect their retirement benefits.

HB 0357

FY 2021 Budget Implementation Act

HB 357 creates the FY 2021 Budget Implementation Act to make changes in state programs that are necessary to implement the FY 2021 budget.

As it relates to SURS, HB 357 authorizes the use of money in the State Pensions Fund as part of the annual state contribution to SURS for FY 2021 and extends the lapse period for FY 2020 from August 31, 2020, to December 31, 2020.

HB 357...

HB 1605

Climate Change Risk Minimization Policy

HB 1605 amends the General Provisions Article of the Illinois Pension Code to require every pension fund (except for downstate police and firefighters’ pension funds) to develop a climate change risk minimization policy by December 31, 2020.

HB 1605 requires the climate change risk minimization policy to consider the financial risk to the investments held by the pension fund in the...

HB 2029

Vested Inactive Buyout – Health Insurance Preservation

HB 2029 amends the State Employees Group Insurance Act of 1971 to ensure that members who take the Vested Inactive Buyout on or after June 4, 2018, under the State Employees’ Retirement System (SERS), State Universities Retirement System (SURS), and Teachers’ Retirement System (TRS) preserve any applicable retiree and survivor health insurance benefits upon receipt of the buyout payment.

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HB 2460

Investment Policies – Sustainability Factors

As it passed the House, HB 2460 amends the General Provisions article of the Illinois Pension Code to require investment policies to include sustainability factors to be considered in evaluating investment decisions.

Specifically, HB 2460 requires every retirement system, pension fund, or investment board subject to the Illinois Pension Code to adopt a written investment policy and file...

HB 2547

Racial Bias, Discrimination, and Harassment Omnibus

HB 2547 amends the State Officials and Employees Ethics Act. It establishes that all persons have a right to work in an environment free from racial discrimination and harassment. All persons subject to the Act are prohibited from racially discriminating against or harassing any person, regardless of any employment relationship or lack thereof. Any person who violates the prohibition on...

HB 4036

SEGIP Qualifying Change in Status

HA #1 to HB 4036 re-inserts the provisions of the original legislation with technical changes. Additionally, it requires any request to elect dependent coverage due to a qualifying change in status to be consistent with the change in status experienced by the member.

HB 4036 amends the State Employees Group Insurance Act of 1971 to expressly define the phrase “qualifying change in...

HB 4323

SURS Trustee Status Clarification

HB 4323 amends the State Universities Retirement System’s article of the Illinois Pension Code to clarify the intent of the General Assembly regarding a SURS trustee’s change in status.

The SURS Board of Trustees consists of six elected trustees (four from participating employees and two from annuitants) and five appointed trustees. SURS’ statute does not clearly indicate what happens...

HB 4454

Diversity, Inclusion, and Cultural Competence Training

HB 4454 amends the State Officials and Employees Ethics Act to require each officer, member, and employee (including SURS trustees and staff) to annually complete a diversity, inclusion, and cultural competence training program, beginning January 1, 2021. The training must include, at a minimum, the following: (1) the definition and a description of diversity and inclusion beyond race and...

HB 4712

Supplemental Defined Contribution Plan

HB 4712 amends multiple provisions of the Illinois Pension Code to create supplemental defined contribution plans for each of the state-funded retirement systems.

As it relates to SURS, HB 4712 requires the SURS Board of Trustees, within one year after the effective date of the legislation, to establish and maintain a defined contribution plan to address the retirement preparedness gap...

HB 5445

Non-Tenured and Adjunct Faculty – State Benefits

HB 5445 amends multiple statutes to require the board of trustees of each public university and community college district to provide state benefits, including health insurance and pension benefits, for adjunct faculty teaching a combined 50% workload at any combination of public higher education institutions. HB 5445 also makes other changes.

HB 5445 takes effect immediately upon...

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