|Jul-21-14||SURS to receive portion of Citigroup settlement||
The State Universities Retirement System (SURS) will receive approximately $3,124,000 from the Citigroup misconduct settlement announced earlier this week by the Illinois Attorney General.
On Monday, July 14, Attorney General Lisa Madigan announced Illinois would receive $84 million as its portion of the national $7 billion settlement with Citigroup, stemming from a federal investigation into risky subprime mortgages.
|Jul-18-14||Self-Managed Plan Webinar||
This webinar is for Self-Managed Plan members who are new to the SURS system or who want to learn more about SMP.
|Jul-11-14||Court Rules on Retiree Health Insurance||
On July 1, 2013, per P.A. 97-0695, SURS retirees began paying a percentage of their pension annuity for health insurance coverage. Those covered under Medicare paid one percent of their annuity and those not covered by Medicare paid two percent of their annuity.
Beginning July 1, 2014, according to the law, those costs doubled. Annuitants covered under Medicare now pay two percent of their annuity and those not covered under Medicare pay four percent.
|Jul-07-14||July Newsletter Now Available||
|Jul-07-14||Emerging Markets Debt RFP||
The State Universities Retirement System (“SURS” or the “System”) is requesting proposals from qualified firms to provide active, long-only, liquid, emerging markets debt investment management services which, after fees, exceeds the return of the agreed upon benchmark.
|May-23-14||SURS - A Trusted Source of Information and Services||
The past several years have been challenging ones for the State Universities Retirement System (SURS) and its members. Legislation, fluctuations in funding and changes to insurance have led to increased complexity of the System and workload for staff. Through it all, SURS has continued to be a trusted source of information and services to its 65 employers and more than 223,000 members.
|May-20-14||Judge Halts Implementation of PA 98-599||
On May 14, Circuit Court Judge John Belz granted a temporary restraining order and a preliminary injunction stopping implementation of Public Act 98-599, the pension reform law passed Dec. 5, 2013.
The judge ruled on a lawsuit filed by several groups representing state workers and retirees, requesting that P.A. 98-599 be halted until Illinois courts can decide its constitutionality.
|May-15-14||Outside Legislative Liaison Services RFP Updated May 15, 2014 – Due date extended||
The due date for proposals for the Outside Legislative Liaison Services RFP has been extended from Friday, May 16, 2014 at 4:30 pm to Monday, June 16, 2014 at 4:30 pm.
The State Universities Retirement System (SURS), a multi-employer retirement system serving over 57,000 beneficiaries and 163,000 active and deferred employees of the Illinois Higher Education and Community College systems is requesting proposals from qualified individuals or firms to provide outside legislative liaison services at the state level.
|May-01-14||2015 Benefit Choice Enrollment Period Begins May 1||
The Fiscal Year 2015 Benefit Choice Period is May 1 – June 2, 2014, for all SURS members. This is the only time of the year, other than when you experience a “qualifying change in status,” that you may change your coverage.
If you would like to make changes to your benefit plan, you must complete the Benefit Choice Form (see below) and return it to SURS by June 2, 2014. Elections will be effective July 1, 2014. If you do not want to make changes to your insurance benefits, you do NOT need to compete the form.
|Apr-29-14||Special Advocate for SMP Members|