|Aug-04-20||SURS Summer Newsletter - Read It Now!||
Be up to date on all the latest SURS news including enhancements coming to the Self-Managed Plan on Sept. 1, a new supplemental savings plan, 2021 trustee election and more.
|Jun-25-20||Enhancements Coming to the Self-Managed Plan Sept. 1||
SURS has redesigned and renamed the Self-Managed Plan. We are excited to launch the new, enhanced Retirement Savings Plan (RSP) starting Sept. 1! The transition includes a new plan recordkeeper, new investment options and other benefits. Visit www.surs.org/RSP for more information.
|Jun-25-20||Notice a change in your July benefit payment?||
If you notice a change in your July benefit payment, please note that it is likely due to an increase in insurance premiums for members and dependents.
The insurance information was distributed by the Illinois Department of Central Management Services (CMS) during the recent Benefit Choice Period that ended June 1. The new premiums begin July 1.
|May-29-20||Disability Reevaluation Orders Resume||
SURS will resume sending medical recheck requests to disability benefit (DB) and disability retirement annuity (DRA) recipients beginning this week. The requests had been temporarily discontinued due to the COVID-19 pandemic making it difficult to schedule required reevaluation appointments.
April reevaluation orders will be mailed the week of May 25, 2020.
|Apr-28-20||SURS Portfolio Designed to Weather Downturn, State Committed to Funding||
Since the coronavirus outbreak, markets have been experiencing a period of heightened uncertainty. As a pension member, we understand that can be worrying. However, it is important to know that your pension is a long-term investment. SURS has a diverse investment portfolio specifically designed to protect against market risk and produce steady returns over a long-term period. Member retirement benefits continue to be secure.
|Apr-27-20||Benefit Choice Period for Health Insurance is May 1 - June 1, 2020||
The FY 2021 Benefit Choice Period to make health insurance changes is May 1 through June 1, 2020. 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.
Members can view and make changes to their coverage through the MyBenefit’s website at MyBenefits.illinois.gov. Paper enrollment forms are no longer provided.
|Apr-24-20||SURS Urges Members to Carefully Read Emails Offering Retirement Counseling||
Many SURS members have recently received unsolicited, potentially misleading emails from companies not affiliated with SURS offering retirement counseling. These emails may appear to come from SURS or appear to represent SURS. They do not.
SURS encourages members to be cautious of email solicitations and skeptical of any attempts by outside firms to request personal or financial information.
Please read your emails carefully and respond accordingly.
|Apr-23-20||Disability Reevaluation Orders Discontinued Until June 1||
The COVID-19 pandemic is making it difficult for disability benefit (DB) and disability retirement annuity (DRA) recipients to see their physicians for required reevaluation appointments. As a result, effective April 1, 2020, SURS will discontinue issuing medical reevaluation requests to our DB and DRA recipients until June 1,2020.
SURS will NOT be suspending monthly benefits for non-compliance of outstanding medical reevaluations and/or requests for medical records.
|Apr-09-20||SURS SMP Redesign Postponed||
Over the last year, SURS staff has been working diligently to redesign the Self-Managed Plan (SMP) by adding new options and enlisting a new record keeper, all to benefit members. The rollout of the new plan was scheduled for June 1. However, due to the COVID-19 outbreak and current economic uncertainty, we have decided that June 1 is too soon to introduce a new plan and move member assets. Therefore, the decision has been made to postpone implementation to Sept. 1, 2020.
Advantages of the redesigned Self-Managed Plan will include:
At SURS we have adopted and adapted to new working conditions, but our members will see the same excellent service, delivery of benefits and fiduciary responsibility they have come to expect and deserve.
Although our offices are closed to the public and most of our staff is working from home to protect their health, we are providing full service to our members. All services and resources are available to members, except in-person contacts. Our staff has risen to the work challenges caused by the coronavirus outbreak and will continue to change and adapt when necessary.