News Features

Feb-20-15 February Newsletter Now Available

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Feb-18-15 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 January 4, 2016. 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 five years.

Jan-29-15 Retiree Health Insurance Premiums Class Action Lawsuit Information

                                        Updated Feb. 6, 2015

Retiree Health Insurance Premiums Class Action Lawsuit Information

Jan-27-15 SURS 2014 Annual Report Released

SURS has posted its 2014 Comprehensive Annual Financial Report. The 104-page report outlines the System’s financial statements, investment results, funding analyses, and benefit payments.

SURS annual reports dating back to 2006 are also available online.

Questions regarding the contents of the report should be directed to SURS Chief Financial Officer Phyllis Walker at 1-800-275-7877.

Click here to view the SURS 2014 Comprehensive Annual Financial Report

Jan-15-15 SURS Retirement Seminars

SURS is offering spring retirement education seminars for Traditional and Portable Plan members in Champaign & Naperville.

Nov-21-14 Circuit Judge Finds Pension Reform Unconstitutional

Circuit Judge Finds Pension Reform Unconstitutional

In a written decision dated November 21, 2014, Judge John Belz of the Sangamon County Circuit Court entered a final declaratory judgment that “Public Act 98-0599 is unconstitutional and void in its entirety.”  The court also ordered that the preliminary injunction preventing State defendants (including SURS) from implementing the Act since May 14, 2014, become permanent.

Nov-20-14 Medicare Advantage 2014 Open Enrollment Information

                                         Updated January 15, 2015

Oct-01-14 SURS SMP Unified Statements Now Available Online Only

Beginning with the 3rd Quarter Unified Statements, as part of a continuing effort to create greater efficiencies, SURS will no longer mail paper copies to Self-Managed Plan members. Unified Statements will be available online only via the SURS Member Website.  Quarterly statements are also available on Provider (TIAA-CREF and Fidelity) websites. 

Sep-23-14 SURS 2015 Board of Trustees Election

William Mabe, board secretary and executive director of the State Universities Retirement System (SURS), has announced the System will hold a board election during April 2015 to fill three expiring trustee positions. An impartial election services company will conduct the election. Candidate packets and petition forms will be available October 1, 2014, from SURS.

Aug-29-14 Court Orders End to State Retiree Percentage-of-Annuity Insurance Premiums

On August 28, 2014, Sangamon County Circuit Court Judge Steven Nardulli ordered the state to stop deducting monthly percentage-of-annuity health care premiums from annuity checks of state retirees and survivors enrolled in the State of Illinois Group Health Insurance Plan. This decision brings the Kanerva vs. Weems (No. 115811) case, filed last July by several state employee groups seeking to protect their premium-free state health insurance, one step closer to resolution.

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