State retirees and survivors will no longer be required to pay a percentage of their annuity for health insurance premiums following a ruling by the Sangamon County Circuit Court.
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For the third time, SURS is to receive a large financial settlement stemming from the national banking scandal investigation.
Effective September 1, 2014, the percentage of annuity State of Illinois retirees and survivors pay for health insurance will revert to 1% or 2%.
A new study shows pension spending supports 6.2 million jobs and $943 billion in economic output nationwide.
The state Supreme Court ruled health insurance subsidies promised to retirees are protected by the state Constitution. The lawsuit now goes back to the lower court for further litigation.
The latest Advocate is now available. Learn more about investments, pension reform, retiree health care premiums and SURS soon-to-be released, updated member summary screen.