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Human Resources

Retirement Planning

Eligible WIU employees will pay into the State Universities Retirement System (SURS). SURS provides retirement, disability, death, and survivor benefits to eligible SURS participants and annuitants. Contributions to SURS are mandatory.

Eligible employees also have the option of participating in supplemental retirement savings plans: the 403(b) plan and the 457 plan.

SURS Retirement

Ready to Retire or Leave the University? Here is a suggested timeline and tips for planning.

Two Years before retirement:
  • Set up and maintain a retirement file for the State Universities Retirement System. Include your SURS Member Guide and any communication you received from SURS.
  • Read the SURS Member Guide and become familiar with the SURS web site at www.surs.org. Learn to use the online SURS Estimator.
  • Confirm your Beneficiary Designations are up to date.
  • Determine if you have eligible service credit to purchase. If you have service that can be purchased, contact SURS to take the steps necessary so it can be purchased now or before retirement.
One Year before retirement:
  • Schedule a counseling appointment with a SURS counselor for retirement estimates.
  • Send birth certificates and marriage certificate to SURS with your social security number or your SURS Member ID number written on them.
Six Months before retirement:
  • Contact SURS for a retirement application and if you have reciprocal service (TRS, SERS, IMRF etc.) contact that system for a retirement application.
  • Contact your Financial Counselor to plan for any deferrals from your sick and/or vacation payouts. Discuss any imminent distributions from your 403(b), 457, and IRA retirement accounts.
Three Months before retirement:
  • Submit your completed Retirement Application to SURS 60-90 days prior to retirement
  • Send retirement letter/email to Human Resources (UPI Employees must complete an IER)
  • If you want to defer taxes on your sick and/or vacation payouts, contact HR-benefits@wiu.edu
  • Contact Social Security if you are already receiving benefits or plan to start receiving benefits upon retirement. If you will be eligible for Medicare (age 65), sign up for Medicare parts A & B. If you are already signed up for Part A, contact Social Security to sign up for Part B.
Two Months before retirement
  • If you want to make changes to your state health, dental and/or life insurance upon your retirement you will need to make changes on the . CMS will send you a communication when that will be available to you to make those changes.
  • Even if you are not making changes to your insurance elections, you must still contact mybenefits to make elections via the portal, or by calling them at 844-251-1777.
Last week before retirement
  • Complete any remaining timecards.
  • Turn in any university owned property, keys, etc.
  • Clean out office space of personal belongings.
  • Complete Clearance Form via email with any updates to address or contact information.

For a complete checklist and additional information, please review the below attachments and videos based on your specific plan. Please be aware that the retirement information provided varies depending on the retirement plan option. If you are not sure what plan you are in, you can log in to your SURS.org portal, or you may email hr-benefits@wiu.edu for assistance.

Retirement Checklist & Videos:

Traditional & Portable Plan Checklist

Retirement Savings Plan (Self-Managed) Checklist

Optional Retirement Plans

403b Plans

If you want to save more for retirement, WIU has a list of 403b providers you can choose from to start saving extra for your future. A 403b account is all individual contributions up to the IRS limit.

Current approved vendors and their contact information is below. If you wish to start up a 403b account, you will need to contact the vendors directly. Once the account has been opened, you will need to contact hr-benefits@wiu.edu to request deduction forms to initiate deductions from your pay.

Please contact the carrier directly to start an account:

  • American Fund Distributors, Inc.
  • Fidelity Investment Co.
    • 800-343-0860
  • TIAA
    • 800-842-2005
    • 630-480-8310
  • VALIC Retirement
    • 217-714-2862
  • Vanguard
    • 800-662-2003
Deferred Compensation Plans 457a

If you want to save more for retirement, WIU has two Deferred Compensation (or 457) providers you can choose from to start saving extra for your future. Deferred Compensation accounts are all individual contributions up to the IRS limit.

Please contact the carrier directly to start an account:

  • Empower through CMS: 833-969-4532
  • Voya through SURS: 800-613-9543

Helpful contact Information & Links

SURS - 800-275-7877

Social Security/Medicare - 800-633-4227