News Features

Dec-19-18 Private Equity Consultant

The State Universities Retirement System (SURS) requests proposals from firms to provide private equity consulting and/or management services to SURS investment staff and board of trustees. SURS is issuing the RFP for due diligence purposes, to ensure its receipt of quality services in a cost-effective manner.

Dec-10-18 SURS to Recoup Over $4 Million from Wells Fargo in Settlement

The State Universities Retirement System (SURS) will receive a $4,312,500 settlement from Wells Fargo as a result of legal action against the bank by Illinois Attorney General Lisa Madigan.

On Dec. 4, Madigan’s office announced a $17.25 million settlement with Wells Fargo over the sale of risky residential mortgage-backed securities leading up to the 2008 economic collapse.

The settlement resolves an investigation into the bank’s failure to disclose the true risk of residential mortgage-backed investments.

Nov-29-18 Member Summaries Available Online

You are invited to log in to SURS secure Member Website and view your most current account information via your personal Member Summary page. It’s easy! Just click on the gold login button in the upper right-hand corner of the homepage and follow the prompts.

First-time users will need to complete the secure Member Website registration process to access their homepage. Once you’re logged in, click on the “My SURS” tab from your homepage to view the Member Summary page.

Sep-26-18 Governor Appoints Schumacher to SURS Board

Gov. Bruce Rauner has appointed Lisa Schumacher of Chicago to the State Universities Retirement System (SURS) Board of Trustees.

Sep-26-18 Medicare Advantage Open Enrollment

The State of Illinois TRAIL Medicare Advantage open enrollment period for participating annuitants and survivors is October 15 - November 15, 2018. The 2019 plan year will begin January 1, 2019, and will run through December 31, 2019.

Sep-13-18 New Law Allows CIP Eligible Members to Opt Back Into Plan

On Aug. 22, 2018, SB 3046 was signed into law by Gov. Bruce Rauner, amending legislation to allow former Community College Insurance Program members and their dependents who previously opted-out of their health benefits plan,  to opt-back-in during an open enrollment period or other qualifying enrollment opportunity.  

Aug-01-18 Plan Choice Webinar - Tier II

This webinar is for Tier II members who have not yet made a retirement plan choice. Tier II members are SURS participants who first begin their SURS (or other eligible Illinois reciprocal system) participation on or after January 1, 2011. The webinars are normally held on the last Tuesday of each month. See dates below.

Jul-31-18 SURS July Newsletter

The July Advocate is now available online, featuring articles on the board of trustees election, upcoming optional buyout plans, Money Purchase Factor changes, SURS asset liability study, investments, SURS IT team, and fall webinars and seminars.

Jun-12-18 State Budget Includes Pension Code Changes that Affect SURS Members

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.

May-04-18 SURS Members Elect New Trustees

 

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
Steven Rock           

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