System HR News

Updated 5/15/2014

On May 14, a Sangamon County judge postponed the implementation of the state's new pension law until constitutional challenges can be decided by the courts.

Following are resources available to help clarify changes to the SURS pension under Public Act 98-599.

• View the SURS news item Learn the Facts about Pension Reform.
• Use SURS' Interim Benefit Estimator on the Member Website to provide a comparison of retiring before or after the effective date of the Money Purchase changes. Calculate an estimate using a retirement date prior to 7/1/14 and then an estimate with a retirement date 7/1/14 or after. If your estimated calculation for a date prior to 7/1/14 indicates that you are highest under SURS General Formula, you will not be impacted by the Money Purchase changes.
• Register for an on-campus SURS Seminar.
• Read SURS P.A. 98-599 Pension Reform FAQs.
• Sign up for a live SURS Pension Reform webinar.
• Watch a recorded SURS Pension Reform webinar.
• Request a SURS Counseling Appointment.

Continuing Health Insurance as a Retiree

Retiring employees who wish to elect health insurance coverage as a retiree must complete and submit the State of Illinois Group Insurance Program Participation Election Form that you will receive in your retirement packet from SURS. Please note:

• Employees who work the last pay period immediately prior to their retirement, and pay premiums for that pay period, will not have a break in health insurance coverage.
• Employees who did not work the last pay period immediately prior to their retirement, or did not pay premiums, would need to elect COBRA in order to avoid a break in coverage before their SURS health insurance coverage goes into effect. Retiring employees who may need to elect COBRA will automatically be notified by the State of Illinois Department of Central Management Services.

Contact University of Illinois Payroll & Benefits (UPB) if you have questions about continuing your health insurance as a retiree.

• Email: benefits@uillinois.edu
• Urbana: 217-333-3111
• Chicago: 312-996-6471
• Springfield: 217-206-7144

Please note that the University’s Benefits and HR offices cannot provide retirement counseling. Only SURS can provide retirement counseling. If you are eligible for retirement and need an annuity calculation/estimate and other counseling, please contact SURS at 800-275-7877 to schedule an appointment.