News Features

Apr-30-18 New Money Purchase Factors Effective Date Set

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.

Apr-02-18 Update on Optional Hybrid Plan

SURS is currently not moving forward with the implementation of the optional hybrid plan created under PA 100-0023. Additional clarifying legislation is needed for SURS to be able to do so. SURS staff worked extensively last year with the General Assembly on a trailer bill that would have provided necessary clarifications; but that bill failed to pass. At this time, it appears unlikely that the General Assembly will pass legislation to implement the optional hybrid plan.

SURS will communicate any changes if they occur.

Feb-16-18 SURS February Newsletter

The February Advocate is now available online, featuring articles on the upcoming board election, 2018 educational webinars and seminars, investments, legislation, SURS employee of the year, new staff members and much more.

Feb-09-18 SURS Announces Candidates for Upcoming Board Election

Champaign, IL - The State Universities Retirement System (SURS) will hold an election on May 2, 2018, to fill the expiring terms of two active-member trustee positions. In accordance with SURS Administrative Rule, 80 Ill. Adm. Code §§1600.700 to 1600.710, the following candidates successfully completed the application and petition process.

Jan-30-18 SURS FY 2017 Annual Report

SURS 102-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.

SURS Annual Financial Report

Jan-25-18 SURS Announces New Deputy Chief Investment Officer

Champaign, IL – The State Universities Retirement System (SURS) is pleased to announce the appointment of Ellen Hung, CFA, as deputy chief investment officer (deputy CIO), effective Jan. 30.

Jan-22-18 SURS Members Receiving Unwanted Solicitations from Compass Investors, LLC

To all SURS SMP Members:

SURS previously received notice that a company called Compass Investors, LLC has been sending email solicitations to our SURS Self-Managed Plan (SMP) members through the following email addresses:

Oct-05-17 Medicare Advantage Open Enrollment

The State of Illinois TRAIL Medicare Advantage open enrollment period for participating annuitants and survivors is October 16 - November 16, 2017. The 2018 plan year will begin January 1, 2018, and will run through December 31, 2018.

Oct-03-17 SURS 2018 Board of Trustees Election

Martin Noven, board secretary and executive director of the State Universities Retirement System (SURS), has announced the System will hold a board election during April 2018 to fill three expiring trustee positions. An impartial election services company will conduct the election. Candidate packets and petition forms are available from SURS. Candidates should contact Kelly Carson at kcarson@surs.org for information. Completed petitions will be due to SURS on Jan. 31, 2018.

Jul-31-17 SURS July Newsletter Available

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