News Features

The State Universities Retirement System of Illinois (SURS) requests proposals from qualified firms to provide transition management services. SURS is issuing the RFP for due diligence purposes, to ensure its receipt of quality services in a cost-effective manner.

On June 4, a full-year state budget for FY 2019 was signed into law by Gov. Rauner. The actual budget bill (PA 100-586) appropriates $1,585,109,800 for SURS’ annual required state contribution. The certified FY 2019 state contribution to SURS is $1,655,154,000.

The SURS Board of Trustees recently set the effective date for changes to the Money Purchase factors as July 2, 2019.

This webinar will provide background information on the Money Purchase calculation as well as an explanation on the effects of upcoming changes.

The changes to the Money Purchase factors will not affect:

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           

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.

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.

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.

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.

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).

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.