Upcoming Pension Proposals | Information from UIC United

RE: PROPOSED CHANGES TO THE SURS PENSION.

Dear Colleagues:

It has been brought to the attention of the Academic Professional Advisory Committee (APAC) that changes to our pension plan (SURS) may be forthcoming. Governor Quinn has proposed legislation to balance the budget.  The Governor’s proposals make dramatic changes to retirement benefits for current and future educators. 

We are writing to urge you to invest a few minutes of your time inform yourself regarding the changes.

Possibilities include (see Illinois State Budget):

* A 2% increase in employee contributions to the State Universities Retirement System (SURS) (see 2-2)

* Higher health insurance premiums (see 2-3)

* A two-tier benefit system for University employees, resulting in poorer benefits for new hires (see 2-2)

* Requiring state employees to take four furlough days  (see 2-3)

* Possible change of age at which you can retire (see 2-2)

Resources:

Illinois State Budget:
http://budget.illinois.gov/

UIC UNITED Summary:

UIC UNITED sample letter to a legislator

For more information, please feel free to contact UIC United and SUAA.
http://www.uic.edu/orgs/suaa/ Or download their briefing report at SUAA Big Briefing

The State Legislature is considering budget options now, and can vote at any time.