|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.
|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.
|Apr-30-18||Benefit Choice Period for Health Insurance is May 1 -31, 2018||
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.
|Apr-30-18||TRAIL/SEGIP Enrollees - Special Dental Only Benefit Choice Period||
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.