|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-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.
|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||
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.
|Feb-09-18||SURS Announces Candidates for Upcoming Board Election||
Champaign, IL - The State Universities Retirement System (SURS) will hold an election on May 2, 2018, to fill the expiring terms of two active-member trustee positions. In accordance with SURS Administrative Rule, 80 Ill. Adm. Code §§1600.700 to 1600.710, the following candidates successfully completed the application and petition process.
|Feb-07-18||Understanding Your SURS Benefits Webinar - Tier I and Tier II||
This webinar will provide an overview of SURS Tier I and Tier II 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.
|Jan-30-18||Understanding Your SURS Benefits Webinar - Tier II||
This webinar will provide an overview of SURS Tier II 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.
|Jan-30-18||SURS FY 2017 Annual Report||
SURS 102-page annual report outlining assets; liabilities; employer contributions; investment policies, objectives and performance highlights; manager fees; membership and benefit statistics and more is available online for members to review.