News Features

May-23-14 SURS - A Trusted Source of Information and Services

The past several years have been challenging ones for the State Universities Retirement System (SURS) and its members. Legislation, fluctuations in funding and changes to insurance have led to increased complexity of the System and workload for staff.  Through it all, SURS has continued to be a trusted source of information and services to its 65 employers and more than 223,000 members.

May-20-14 Judge Halts Implementation of PA 98-599

On May 14, Circuit Court Judge John Belz granted a temporary restraining order and a preliminary injunction stopping implementation of Public Act 98-599, the pension reform law passed Dec. 5, 2013.

The judge ruled on a lawsuit filed by several groups representing state workers and retirees, requesting that P.A. 98-599 be halted until Illinois courts can decide its constitutionality.

May-01-14 2015 Benefit Choice Enrollment Period Begins May 1

The Fiscal Year 2015 Benefit Choice Period is May 1 – June 2, 2014, for all SURS members. This is the only time of the year, other than when you experience a “qualifying change in status,” that you may change your coverage.

If you would like to make changes to your benefit plan, you must complete the Benefit Choice Form (see below) and return it to SURS by June 2, 2014. Elections will be effective July 1, 2014. If you do not want to make changes to your insurance benefits, you do NOT need to compete the form.

Apr-29-14 Special Advocate for SMP Members
Apr-18-14 Special Advocate for Tier II Members
Apr-14-14 Special Advocate for Tier I Members
Mar-28-14 SURS Pension Reform Education Efforts

In light of the imminent start date of P.A. 98-599, SURS staff is doing all it can to provide the most comprehensive pension reform information for members.

Website - SURS website has a dedicated page on pension reform education that includes a synopsis of the bill, a pension reform video presentation, Frequently Asked Questions (FAQs), a retirement plan comparison chart, the Money Purchase Factor Fact Sheet, links to the bill and the General Assembly votes, information on the legal challenges to the bill, and webinar information. 

Mar-25-14 Governor Appoints SURS Trustee

Governor Pat Quinn has appointed Peter Newell to the State Universities Retirement System (SURS) Board of Trustees. 

Newell is a vice president at the venture capital firm Sandbox Industries in Chicago, where he is part of the founding team of its new practice, Sandbox Innovation Partners, which helps corporations innovate by connecting them with emerging technology companies from around the world. 

Mar-24-14 Learn the Facts about Pension Reform
On May 14, 2014, the Illinois Circuit Court granted a temporary restraining order and a preliminary injunction stopping implementation of Public Act 98-599, the pension reform law passed Dec. 5, 2013. In accordance with the order, SURS will continue administering contributions and benefits as the law existed prior to amendment by P.A. 98-599 until otherwise ordered by the court.
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.
                            For more information please contact your local Social Security office.

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