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Changes to SURS Self-Managed Plan/Addition of 457 Plan

HR Cougar Corner

The Self-Managed Plan (SMP) will be changing its name and will be called the SURS Retirement Savings Plan.

New investment options will be offered in the SURS Retirement Savings Plan including:

A new default investment option: the SURS Lifetime Income Strategy. This professionally managed, flexible investment option can help members grow their money in their working years, and as they near retirement, they can choose to secure guaranteed retirement income.

This investment option also gives members the ability to receive retiree health insurance benefits, all while maintaining control of a portion of their account balance in retirement ― an enhancement to current offerings.

A new core investment lineup with new asset classes and fund managers.

In addition, SURS will soon offer a SURS 457(b) Deferred Compensation Plan to all active members so that you can have an additional convenient way to save for retirement.

Voya Financial will be the new recordkeeper for both plans. Once the transition to Voya is complete, members will have access to:
Telephone, on-site campus services, and mobile account access for 24/7 convenience.
Interactive web experience to improve overall financial health and retirement readiness.
Online tools, educational materials and more.

Changes will be effective September 1. More information will come soon.

Highland Campus

2998 W. Pearl City Rd. Freeport, IL 61032

815.235.6121

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