The State Universities Retirement System of Illinois (SURS) is soliciting proposals from independent public accounting firms to provide employer audit services for employers (state universities, community colleges and affiliated organizations) with members participating in SURS. Provided services shall include, but not be limited to: client meetings and consultations; development of audit objectives and audit programs, field testing at employers, reporting to employers, SURS management and SURS Audit Committee. SURS expects to sign a multi-year contract for these auditing services.
|Mar-13-15||SURS Board of Trustees Names New Director||
The State Universities Retirement System Board of Trustees today unanimously selected W. Bryan Lewis as the new executive director of the $17.4 billion state pension fund. Lewis’ appointment becomes effective April 6, 2015.
“Mr. Lewis has more than 15 years of experience in institutional investments and financial management,” said Lindsay Anderson, SURS Board of Trustees chairperson. “His broad experience and in-depth knowledge will be a true asset to the System in the years to come as we strive to secure and deliver the retirement benefits promised to our members.”
|Mar-06-15||Fund of Hedge Funds Manager Search||
The State Universities Retirement System (“SURS” or the “System”) is requesting proposals from qualified firms to to oversee and administer a Diversified Multi-Strategy Fund of Hedge Funds program which, after fees, exceeds the return of the agreed upon benchmark.
|Mar-04-15||SURS Website Survey Results||
In a recent online survey conducted by SURS, our website users overwhelmingly describe the site as well done and easy to navigate. Over 80 percent said they found exactly what they were looking for when they logged on.
|Feb-20-15||February Newsletter Now Available||
|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|
|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.