|Jul-07-17||Legislature Passes FY 18 Budget including Optional Hybrid Plan||
The Illinois General Assembly, on July 6, successfully voted to override the governor's veto and passed a FY 18 budget that identifies the appropriation of funds for SURS and includes provisions for creating an optional hybrid pension plan that will be available to current Tier II members and future new hires. The new plan will not affect Tier I members, retirees or SMP members.
|Jun-14-17||Governor Appoints SURS Trustee||
Gov. Bruce Rauner has appointed Mark J. Cozzi to the State Universities Retirement System (SURS) Board of Trustees.
Cozzi is the managing partner and founder of Lincoln Park Capital Group, which he founded in 2008. In 2011, he became senior managing director of the Electrum Group, an investment firm focused on the natural resources sector. He rejoined Lincoln Park Capital Group in 2014.
|May-01-17||Benefit Choice Enrollment Period Extended to June 1||
MyBenefits Service Center will continue to accept elections and voice mail messages regarding enrollment through 11:59 pm CT on June 1, 2017. Please note, every attempt will be made to return calls as soon as possible so that any members still awaiting a response from MyBenefits Service Center can complete their elections. Messages left by 11:59 pm CT on June 1 will have their Benefit Choice elections processed.
|Apr-11-17||SURS/SUAA 2017 Legislative Event||
On April 5, SURS partnered with the State Universities Annuitants Association (SUAA) for our annual legislative "Meet and Greet" in Springfield. Several legislators stopped by the SUAA office in downtown Springfield to talk with SURS and SUAA trustees and staff about issues important to our members.
|Mar-17-17||SURS Selects CIO||
The State Universities Retirement System (SURS) Board of Trustees has hired Douglas Wesley as Chief Investment Officer (CIO).
Wesley, who had been serving as interim CIO since former CIO Dan Allen’s retirement in August of 2016, has been with SURS for 19 years.
|Jan-31-17||SURS January Newsletter Available||
The January Advocate is now available online, featuring articles on our new executive director, the legal and legislative team, employee of the year, investments, the Self-Managed Plan, legislation and upcoming webinars and seminars.
|Dec-30-16||Credit granted for furlough and voluntary pay reduction||
On Aug. 26, 2016, PA 99-0897 was signed into law allowing certain SURS participants to establish service and earnings credit for periods of furlough or periods of voluntary pay reduction taken in lieu of furlough. Eligible SURS participants must have periods of furlough or periods of voluntary pay reduction taken in lieu of furlough beginning on or after July 1, 2015, and ending on or before June 30, 2017.
|Oct-17-16||SURS Board of Trustees Names New Director||
The State Universities Retirement System (SURS) Board of Trustees has selected Martin Noven as the new executive director of the $18 billion state pension fund. Noven’s appointment becomes effective November 2, 2016.
|Oct-06-16||Medicare Advantage Open Enrollment||
The state of Illinois offers annuitants and survivors a healthcare program called Total Retiree Advantage Illinois (TRAIL). This program provides eligible members and their covered dependents comprehensive medical and prescription drug coverage through Medicare Advantage plans (commonly referred to as "MAPD" plans). The State of Illinois Group Insurance Program also includes vision coverage and optional dental and life insurance coverage.
|Sep-30-16||State Switching to Electronic Insurance Forms via Third-Party Vendor Website||
Effective September 30, 2016, the State Universities Retirement System’s (SURS) assistance with the enrollment of all member, retiree and survivor health insurance coverage will change.