Saving For The Future Is Automatic With SURS DCP

New Hires Now Automatically Enrolled in SURS Deferred Compensation Plan (DCP)

Beginning July 1, 2023, all newly hired* SURS members will be enrolled in SURS Deferred Compensation Plan (DCP).

Saving and investing for the future is important. Many people need more than one source of retirement income, and SURS members do not contribute to Social Security.

That’s why SURS offers our members the DCP, a supplemental 457(b) plan that complements SURS core retirement plans.

Newly hired* members will be automatically enrolled in the SURS DCP and will begin saving and investing just 30 days after they are hired.

Members can customize their contribution rate and investment lineup or opt out of the DCP within the 30-day opt out period. See more information below.

Current SURS members are also encouraged to enroll in the DCP to supplement future retirement savings.

SURS is implementing automatic enrollment in the DCP for newly hired members in accordance with Illinois state law.

*Only members who are originally hired and certified in SURS on or after 7/1/23 will be automatically enrolled. Members who previously certified in SURS that are re-employed are not subject to automatic enrollment but may voluntarily enroll.

It’s never too early or too late to save

Contributing regularly to the DCP sooner offers the potential to accumulate a larger account balance over time than if you put off enrolling. As you can see, starting early has advantages.

From age 25-65, I contributed 3% of pay

Balance at age 65: $248,936

  • $248,936

From age 45-65, I contributed 3% of pay

Balance at age 65: $55,178

  • $55,178

Assumes annual pay of $50,000, a 3% annual contribution rate and 6% annual interest, compounded monthly. This hypothetical illustration is not guaranteed and does not reflect the performance of any specific investment option. If contributions are made on a pre-tax basis, they reduce your current taxable income dollar-for-dollar which may lower the taxes you pay today. Taxes due upon withdrawal.

SURS DCP automatic enrollment provides options

Members don’t have to do anything if they want to stick with the automatic enrollment account settings. The contribution rate will be 3%, deducted before taxes from the member’s paycheck. After that, your contribution rate is set to go up 1% on July 1 each year until your contribution rate reaches 10%. This increase will begin on July 1 once you have been in the plan for at least 180 days. Pay increases often take place during this time, so the increase to your contribution may not be felt as much. The money will be invested in the SURS Lifetime Income Strategy (LIS).

This target date portfolio is managed by professionals and designed to help members:
• Build retirement wealth while working, and
• Generate guaranteed income for life in retirement.

Members can make their own enrollment decisions ahead of their scheduled enrollment date. Log in to, click on Member Login, then click on the “Enroll in the SURS DCP” link to:
• Set your own contribution rate, from as little as $10 per paycheck or 1% of your salary, up to the IRS maximum annual limits. For the 2024 tax year, if you are age 49 and under, you can make up to $23,000 in before-tax and/or Roth contributions; at age 50 and up, the maximum is $30,500.
• Create your own portfolio by selecting among the SURS DCP’s other available best-in-class funds.
• Opt out of enrolling in the SURS DCP.

Learn more
Detailed information about the SURS DCP and the investment options, including the SURS Lifetime Income Strategy, is available at

Talk with a SURS Defined Contribution Account Representative at 800-613-9543 or schedule an appointment at

SURS DCP account access

It’s easy for members to manage their account and get information whenever they want.

Members should be sure to name beneficiaries who would receive plan assets in the event of their death.

Web: Log into the SURS member website at

Mobile: Manage accounts on the go using the Voya Retire® app. Search Voya Retire in any app store.*

Phone: Call the SURS Defined Contribution Contact Center at 800-613-9543.

*Includes iPhone®, trademark of Apple Inc., registered in the United States and other countries. App Store is a service mark of Apple Inc. Android is a trademark of Google Inc. Amazon and Kindle are trademarks of, Inc. or its affiliates.