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Retirement & Investment Plans

Retired from the University - Important Information to Know

Thank you for your years of dedicated service to the University of Illinois. For answers to common questions and an overview of insurance and other benefits in retirement please visit the Retiree Benefits page. You may also view information on Medicare as well as Frequently Asked Questions about Retiring which include answers to common questions about retirement eligibility, retirement income, social security, other retirement plans, and returning to work.


SURS

The SURS Benefit Recipient Home Page provides information on retirement annuities, death benefits, and survivor benefits. It also provides access to useful forms, guides, web links, and frequently asked questions about SURS topics. Please also view the SURS Retirement Annuity Fact Sheet for basic information on the Traditional and Portable plans only.


Programs & Services for Retirees

A Guide to Benefits and Services for Retirees (Urbana) - covers computing services, educational benefits, financial services, health and fitness services, parking, recreation, and other topics for Urbana campus retirees.

Retiree's Guide (Chicago) - covers educational benefits, privileges after retiring, use of facilities, parking, recreation, and other topics for Chicago campus retirees.


Returning from Retirement

The State Universities Retirement System (SURS) policy for reemployed retirees stipulates the following:

  • A retiree may not return to employment for an employer covered under SURS for at least 60 days after the retirement date.
  • Employees who retire after age 60 -- in any academic year, a reemployed retiree's earnings, plus the annual base annuity from SURS, cannot be greater than their highest earnings during any academic year before retirement.
  • Employees who retire before age 60 -- a monthly earnings limit applies: the monthly earnings cannot exceed the base monthly gross annuity in any one-month period.

Retired academic and staff employees' salaries, upon reemployment, must be within the limits set by the State Universities Retirement System (SURS).

This policy does not change in any way the regular and existing University decision-making processes with regard to the employment of retirees. Any exception to the above policy may result in a reduction or suspension of the retiree's SURS annuity.

PLEASE NOTE: Returning University retirees are subject to Medicare withholding. Contact UPB Payroll Services for additional information.


Maintained by University Human Resources | Contact Information | Last Update: 25-September-2013 | ID: 3175