News Features

Jul-31-19 SURS July Newsletter

The July Advocate is now available online, featuring articles on SURS new trustees, buyout extensions, the SMP redesign, a new supplemental plan, webinars, seminars, investments, legislation and more.

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-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.

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.

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.

Feb-12-19 SURS February Newsletter

The February Advocate is now available online, featuring articles on the two new buyout options, the FY 2018 annual report, 2019 educational webinars and seminars, investments, legislation, SURS employee of the year, 1099-R forms and much more. www.surs.org/advocate

Feb-05-19 Spam Alert

SURS has been made aware of a spam messaging campaign that looks to have originated from one of our accounts – security@surs.org. Please be aware that these messages are not authentic. Our information security team has taken the necessary steps to remedy the situation.  We apologize for any inconvenience this may have caused.

Jan-18-19 Recordkeeping Services and Investment Services for the SURS 401(a) and 457(b) Retirement Plans

The State Universities Retirement System (SURS) has issued this Request for Proposal (RFP) to procure full service recordkeeping, custodial, and investment services for the Self-Managed Plan ("SMP"), an IRC Section 401(a) retirement plan, and a new supplemental plan under IRC Section 457(b) ("Supplemental Plan").

SURS is seeking to redesign the SMP to help better enable participants to maintain their standard of living in retirement. SURS is launching the Supplemental Plan to provide members with the tools they need to address any retirement readiness gaps.

Jan-15-19 SURS FY 2018 Financial Report

SURS 100-page annual report outlining assets; liabilities; employer contributions; investment policies, objectives and performance highlights; manager fees; membership and benefit statistics and more is available online for members to review. It is divided into five sections for easy navigation.

SURS FY 2018 Comprehensive Annual Financial Report

 

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