News Features

May-04-18 SURS Members Elect New Trustees

 

Steven Rock and Collin Van Meter have been elected to serve on the State Universities Retirement System (SURS) Board of Trustees by the System’s active members. John Engstrom was elected to serve as an annuitant trustee. Their six-year terms begin July 15.

 

Steven Rock
Steven Rock           

May-03-18 Operational Review of Public Pension System

The State Universities Retirement System of Illinois (SURS) is seeking proposals from qualified candidates and eligible organizations for an operational review of the SURS organization. SURS strives to provide high quality, cost-effective and efficient service to its members and stakeholders.

Apr-30-18 Benefit Choice Period for Health Insurance is May 1 -31, 2018

The FY 2019 Benefit Choice Period to make health insurance changes is May 1 through May 31, 2018. This affects SURS active members as well as annuitants and survivors not enrolled in the Medicare Advantage 'TRAIL' Program. This is the only time of the year, other than when you experience a "qualifying change in status," that you may change your insurance coverage.

Apr-30-18 TRAIL/SEGIP Enrollees - Special Dental Only Benefit Choice Period

A special Dental Only Benefit Choice Enrollment Period will be available to SURS members enrolled in the State Employees Group Insurance Program (SEGIP) and the Medicare Advantage TRAIL Program. The enrollment period will be May 1 - May 31.

During this open enrollment, you may elect to opt-in or opt-out of dental coverage if you choose. This change affects your annual deductible costs, allowable expenses and out-of-pocket maximums. Elections made during this enrollment period will take effect July 1, 2018.

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 Self-Managed Plan Pre-Retirement Seminar (Naperville)

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

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