SURS-eligible employees are now able to enroll in the SURS 457 Deferred Compensation Plan (DCP). The SURS 457 DCP is a new voluntary retirement savings opportunity that is available through payroll deduction. The SURS 457 DCP is supplemental to your SURS Traditional, Portable, or Retirement Savings Plan.
To enroll in the SURS 457 DCP
- Log in to the SURS Member Website
- Contributions to the SURS 457 DCP will be deducted beginning in January
Learn more about the SURS 457 DCP
Annual IRS Limit
- You may contribute up to the maximum IRS limit in both the University Supplemental 403(b) Plan and the new SURS DCP. This means you can contribute up to $20,500 (for 2022) in each for a maximum total of $41,000.
- The new SURS DCP and the existing State of Illinois Deferred Compensation 457 Plan are both 457 plans, so they have a single, combined IRS limit. This means that your contributions to either one or both cannot exceed $20,500 (for 2022) in total.
Watch your email and postal mail for additional information from SURS in the coming weeks.
Questions?
Call the SURS Defined Contribution Contact Center at 800-613-9543 or TDD 800-579-5708 to talk to a Customer Service Associate, Monday – Friday, 7 a.m. to 7 p.m.
