No, you may leave your funds with SURS. However, you will be required to take a distribution when you reach Required Minimum Distribution (RMD) age, unless you are employed by a SURS-covered employer or an employer covered by another Illinois reciprocal retirement system. RMD age is as follows: 70.5 for members born before July 1, 1949; 72 for members born July 1, 1949 through December 31, 1950; 73 for members born January 1, 1951 through December 31, 1958 (proposed IRS regulations extend this RMD age for those born during 1959); and 75 for members born on or after January 1, 1960. RMD rules apply to a lump-sum distribution and/or a monthly benefit, whichever the member qualifies for or elects. SURS contacts members as they approach RMD age so that the proper paperwork can be completed.
