News Features

Apr-30-18 New Money Purchase Factors Effective Date Set

The SURS Board of Trustees recently set the effective date for changes to the Money Purchase factors as July 2, 2019. The changes to the factors are a result of a recent actuarial experience study* which recommended a reduction of the assumed rate of investment return and updated mortality tables to reflect an overall increased life expectancy. An actuarial experience study is required by state statute at least once every three years.

Apr-30-18 Virtual Retirement Education Seminar (For Tier II Members)

This virtual seminar is appropriate for Tier II members who are considering retirement.

Members who originally began contributing to SURS on or after January 1, 2011, are Tier II.

The seminar includes a general SURS overview presentation, a Social Security presentation and two different presentations on insurance benefits after retirement.

Please chose the video that is appropriate for you based on your employer. One presentation is for State Insurance (university employees) and one presentation is for the College Insurance Program (community college employees).

Apr-20-18 Real Estate Consultant

The State Universities Retirement System of Illinois (SURS) requests proposals from qualified firms to provide non-discretionary real estate consulting services. SURS is issuing the RFP for due diligence purposes, to ensure its receipt of quality services in a cost-effective manner.

Apr-02-18 Update on Optional Hybrid Plan

SURS is currently not moving forward with the implementation of the optional hybrid plan created under PA 100-0023. Additional clarifying legislation is needed for SURS to be able to do so. SURS staff worked extensively last year with the General Assembly on a trailer bill that would have provided necessary clarifications; but that bill failed to pass. At this time, it appears unlikely that the General Assembly will pass legislation to implement the optional hybrid plan.

SURS will communicate any changes if they occur.

Mar-06-18 From Here to Retirement Webinar

This webinar is designed to help early to mid-career members consider future goals and evaluate retirement readiness. It provides an overview of SURS benefits as well as other key components necessary for a secure retirement.

Mar-01-18 Understanding Your SURS Benefits Webinar - Tier I

This webinar will provide an overview of SURS Tier I benefits, with a focus on retirement. Earning & purchasing service credit, sick leave, refunds, reciprocal time, disability, death & survivor benefits, insurance, retirement calculations, & applying for retirement will all be discussed.

Mar-01-18 Retirement Education Seminars (Champaign)

There are no seminars scheduled at this time. Please check back later for upcoming dates.

Mar-01-18 Self-Managed Plan Pre-Retirement Seminar (Naperville)

There are no seminars scheduled at this time. Please check back later for upcoming dates.

Feb-16-18 SURS February Newsletter

The February Advocate is now available online, featuring articles on the upcoming board election, 2018 educational webinars and seminars, investments, legislation, SURS employee of the year, new staff members and much more.

Feb-15-18 Self-Managed Plan Webinars

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These webinars are for Self-Managed Plan participants who are new to the SURS System or just want information regarding SMP procedures including transfers, service credit purchases and accumulation, and contact information.

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