News Features

Jun-11-19 SURS Announces Board Vacancy

State Universities Retirement System (SURS) Executive Director Martin Noven today announced a vacancy on the SURS Board of Trustees. The elected annuitant seat will be filled by a majority vote of the other five elected trustees.

May-29-19 IT Research & Advisory Services

The State Universities Retirement System (SURS) is soliciting proposals for procurement of information technology research and advisory services from an experienced provider who offers these services as a core component of their business. The purpose is to equip SURS’ Information Technology (IT) leaders with current information to identify technology trends, and assist technology directions with tools, templates, and current analysis to ensure the most effective delivery of essential IT services to SURS.

May-28-19 Optional Buyout Webinar

This webinar is for members who would like to learn more about the Fiscal year 2019 budget implementation Law (Public Act 100-587), signed June 4, 2018, which amended the Illinois Pension Code and created provisions for two optional buyouts: the Vested Inactive Buyout for vested inactive members or the Tier I Automatic Annual Increase (AAI) Buyout for members who are retiring.

May-28-19 Pension Buyouts Begin July 1

Two voluntary pension buyouts - the Vested Inactive Buyout and the Tier I Automatic Annual Increase (AAI) Buyout - will begin July 1, 2019, for SURS members who meet the criteria. Applications for both buyouts will be available in June.

May-10-19 Professional Services: External Legal Counsel - All Areas

The State Universities Retirement System (SURS) is soliciting proposals for external legal counsel to provide legal services and advice relative to the following areas: Investments, application of the Illinois Pension Code and administrative procedures, state and federal tax issues pertaining to 401(a) and 457(b) plans, board governance, labor and employment matters and fiduciary liability.

Apr-26-19 Benefit Choice Period for Health Insurance is May 1 - 31, 2019

The FY 2020 Benefit Choice Period to make health insurance changes is May 1 through May 31, 2019. 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 members experience a "qualifying change in status," that they may change their insurance coverage.

Members can view and make changes to their coverage through the MyBenefit’s website at www.MyBenefits.illinois.gov. Paper enrollment forms are no longer provided.

Apr-16-19 Governor Appoints Three Trustees to SURS Board

Gov. Pritzker has appointed Richard Figueroa, Jamie-Clare Flaherty and John Lyons to the State Universities Retirement System (SURS) Board of Trustees.

Figueroa, of Chicago, is the chief investment officer of Barrett-Lo Visionary Development. Before joining Barrett-Lo, he was the chief operating officer of Janko Group, the director of capital markets for the Opus Group and served as the director of acquisitions for Mansur & Company. Figueroa has a bachelor's degree from Yale University, a master’s degree in public policy and an MBA from the University of Chicago.

Apr-01-19 Alternative Risk Premia

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

Apr-01-19 Systematic Trend Following Search

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

Mar-21-19 Important Message Concerning Automatic Dues Deductions - IPI Letter

SURS has learned that many of our members recently received a letter from the Illinois Policy Institute (IPI) urging them to end their automatic deductions for union dues and/or dues to retirement organizations.

This letter was sent without SURS knowledge or consent. SURS does not support this effort by the IPI or approve of any actions meant to dissuade our annuitants from joining or backing organizations of their choice.

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