S U R S

1 PORTABLE PLAN MEMBER GUIDESURSSTATE universities retirement SYSTEMThe benefits in this booklet pertain to the Portable Benefit Package. A Traditional Benefit Package Guide and a retirement Savings Plan (RSP) Guide are also available as separate publications to explain the benefits pertaining to those booklet is intended to serve only as a brief summary of the provisions of the law governing the State universities retirement system . It should not be considered a substitute for the provisions of the law, which are set forth in Articles 1, 15, and 20 of the Illinois Pension Code. The provisions of the law prevail over any statements, errors or omissions of this STATEMENTTO SECURE AND DELIVER THE retirement BENEFITS PROMISED TO OUR MEMBERS.

2 TABLE OF CONTENTSAPPLICATION OF CHANGES IN THE LAW ..1 INTRODUCTION ..1 ELIGIBILITY ..1 CONTRIBUTIONS ..2 Employee ContributionsMaximum Pensionable EarningsSocial SecurityEmployer ContributionsSERVICE CREDIT ..2 PART-TIME EMPLOYMENT ..3 QUALIFYING FOR MORE SERVICE CREDIT ..3 Leaves of AbsenceDisability Leave ..4 Unused Sick LeavePrior Service With Another SURS-Covered Employer ..5 Military ServiceMilitary LeavePurchase of Military Service CreditOther Public Employment (OPE)Eligibility ..6 Reciprocity With Other Systems ..6 How Your Benefit Will Be Calculated Under ReciprocityRepayment of a Separation Refund.

3 7 Effective Rate of InterestCLAIMING YOUR BENEFITS ..8 DISABILITY BENEFITS ..8 How to Apply for BenefitsWhen Disability Payments BeginYour Disability Benefit AmountBenefit Reductions and Other Limitations ..9 How Participation in a Reciprocal system Affects Your Disability BenefitHow Long Disability Benefits LastIf You Return to Work and Become Disabled Again ..10 Options Available After Your Disability Benefit StopsEligibility for Other Benefits During DisabilityDISABILITY retirement ANNUITY (DRA) ..10 How to Apply for BenefitsDRA Payments and Amount ..11 How Long DRA Benefits LastEligibility for Other Benefits While on DRABENEFITS PAID AFTER YOUR DEATH.

4 11 Death and Survivor Benefits ..11If You Die Before RetirementIf You Die After retirement ..12 retirement BENEFITS ..12 FINAL AVERAGE EARNINGS ..12 HOW YOUR retirement BENEFIT IS CALCULATED ..13 General FormulaGeneral Formula Tables ..14-15 Early retirement Reduction ..15 Money Purchase Calculation ..15 Actuarial Chart ..16 Minimum Annuity Formula ..17 Supplemental Minimum Annuity GuaranteeSpecial Features for Police Officers and Firefighters ..18 Police Officer DefinedEmployee ContributionsRetirement BenefitsEligibility for Special FormulaHow the Police Officer and Firefighter Benefit is CalculatedAPPLYING FOR YOUR retirement ANNUITY.

5 19 Estimate RequestsNormal Form of AnnuityOptional Forms of AnnuitySingle-Life AnnuityJoint & Survivor Annuity Options ..20 Lump-Sum retirement BenefitJoint & Survivor Annuity Tables ..21-23 Employer Information ..24 YOUR ANNUITY First PaymentDirect DepositsIncome Tax InformationFederal Income TaxState Income Tax ..25 Mandatory DistributionsEmployment After RetirementIf You Elect a Recurring Monthly AnnuityIf You Elect the Lump-Sum Benefit ..26 Automatic Annual IncreaseHEALTH INSURANCE ..26 Community College Retiree Health InsuranceState of Illinois Retiree Health Insurance ..27 APPLYING FOR A REFUND IF YOU LEAVE SURS.

6 27 Employer Information ..28 Amount of RefundTaxability of a RefundRollover of a Refund ..29 OTHER INFORMATION ..29 Loans, Garnishment, BankruptcyDivorceAppeal ProcedureConfidentialityBenefit Summary StatementsNewsletter ..30 SURS WebsiteMember WebsiteCONTACTING SURS ..30 TelephoneFaxCURRENT SURS-COVERED EMPLOYERS ..31 SURS LOCATION MAP ..321 APPLICATION OF CHANGES IN THE LAWG enerally, changes in the retirement law are appli-cable only to persons who are contributing mem-bers on or after the effective date of legislation. If you terminated your employment status before the effective date of the legislation, the changes will not be applicable to you unless the legislation specifically provides for retroactive , the date you first become a participant with SURS or another eligible Illinois retirement system covered under the Illinois retirement Sys-tems Reciprocal Act determines your eligibility for SURS benefits and vesting requirements.

7 It is important that you notify SURS if you participated in another Illinois retirement system or if you had previous participation with SURS but accepted a refund (see Page 6 for a list of the reciprocal sys-tems). In some cases, it may be necessary for the refund to be repaid to allow SURS to recognize the prior participation when considering eligibility. Example: If you first began participation prior to Jan. 1, 2011, you would be considered to be a Tier I member. If you first began participation on or after Jan. 1, 2011, you would be considered to be a Tier II is a qualified 401(a) retirement plan that provides retirement , disability, death and survivor benefits to eligible SURS participants and annui-tants.

8 SURS members must choose one of three retirement options:1. Traditional Benefit Plan2. Portable Benefit Plan3. retirement Savings Plan (RSP)New members must choose a retirement plan with-in six months from the date SURS receives their certification of employment from the employer. Your choice is permanent and cannot be changed. Information is sent to all new members, along with an election form, to help you make your choice. If you are a new member, please review the informa-tion carefully to determine which option is best for you. If you fail to choose within six months, you will be permanently enrolled in the Traditional Benefit Traditional Benefit PlanThis is the historical SURS defined benefit retire-ment plan.

9 Until 1998, it was the only SURS plan available. It provides lifetime retirement benefits and provides for a survivor benefit at no additional cost. However, the separation refund feature is not as generous as the Portable Benefit Plan. SURS Portable Benefit PlanThis is also a defined benefit retirement plan that has much in common with the Traditional Benefit Plan. It provides a more generous separation re-fund if you leave the system . However, the provi-sions for survivor benefits require a reduction to the retirement and death retirement Savings Plan (RSP)This is a defined contribution plan that establishes an account in your name into which your contribu-tions and the employer (state of Illinois) contribu-tions are placed.

10 You decide how your funds will be invested, selecting from a variety of mutual funds and variable information about the three retire-ment options can be found on the Internet at or in the retirement Choice Election Packet available through covers all faculty and support staff of Illinois public higher education including uni-versities, community colleges and other related employer will determine your eligibility to participate in SURS. Generally, you will partici-pate if your position requires you to work con-tinuously for at least one academic term or four months, whichever is less, and your employment is not temporary, intermittent, or irregular.