|Feb-25-14||CMS Medicare Update||
PLEASE NOTE: If your 2012 Modified Adjusted Gross Income (as reported on your 2013 tax return) is $85,000 or less for an individual/ $170,000 or less for a married couple, this information does not affect you.
|Jan-27-14||SURS 2013 Annual Report Posted||
The SURS 2013 Comprehensive Annual Financial Report has been posted online for public viewing. SURS annual reports dating back to 2006 are also available.
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 2013 Comprehensive Annual Financial Report
|Jan-24-14||January Newsletter Now Available|
|Dec-03-13||CMS Has Extended the Dependent Eligibility Verification Audit Deadline||
The deadline for returning Dependent Eligibility Verification Audit (DEVA) forms has been extended until January 31, 2014.
SURS members should continue to call the HMS Employer Solutions call center with their questions – 877-658-0596.
In October, the Illinois Department of Central Management Services (CMS) retained the services of HMS Employer Solutions (HMS) to conduct a Dependent Eligibility Verification Audit.
|Dec-03-13||SURS Helping Members With Medicare Advantage Questions||
The SURS staff has been preparing over the past several months for the Medicare Advantage Enrollment Period. An “increase in traffic” plan of action started on November 12, the first day of enrollment, and will continue through December 13, the final day of enrollment.
To help with increased calls, all Member Service Representatives (MSRs) within the agency are helping with phone calls and SURS Counselors are providing on-site counseling sessions and Power Point presentations for those who stop by the office looking for help.
|Nov-25-13||2013 Benefit Summary Statements Available Online||
SURS began mailing 2013 Benefit Summary Statements on November 13, 2013. Approximately 125,000 statements will be mailed. Statements are mailed in zip code order, in batches of approximately 5,000 per day, beginning with the statements for actively employed members. Mailing will continue through the end of the year. Please allow time for your statement to reach you before calling to request a replacement copy.
Members may also log in to the SURS Member Website to review an online version of the same statement.
|Nov-21-13||SURS to Receive Settlement from JP Morgan Chase||
SURS to receive $16.2 million from JPMorgan Chase
Champaign, IL – The State Universities Retirement System will receive $16.2 million as part of a $100 million settlement with JPMorgan Chase & Company, Illinois Attorney General Lisa Madigan announced Tuesday. The settlement is regarding losses incurred by Illinois’ pension systems as a result of the bank’s misconduct in the lead up to the 2008 economic collapse.
|Nov-15-13||Update on State Medicare Advantage Plans||
The State of Illinois is requiring Medicare-primary retirees, annuitants and survivors currently enrolled in the College Insurance Program (CIP) and the State Employees’ Group Health Program (including those who have Medicare-primary dependents on their health insurance coverage) to move to a State-sponsored Medicare Advantage Plan.
|Nov-06-13||SURS Posts Solid FY 13 Investment Results||
The State Universities Retirement System earned a strong 12.5% investment return (net of investment fees) for Fiscal Year 2013 (ending June 30, 2013), increasing plan assets to $15.0 billion. Estimated assets at the end of September 2013 were in excess of $15.6 billion.
Investment income and net appreciation totaled $1.7 billion for the 2013 Fiscal Year. As of June 30, 2013, SURS portfolio earned an average return of 7.7% for the last ten years, 8.5% since 1988, and 9.2% over the past 30-year period. The fund's assumed rate of investment return is 7.75%.
|Oct-15-13||SMP Newsletter Available Online||
Read the advocate.