Welcome to Benefit Services
Here you can explore all your benefit options as an Eastern Illinois University employee. Our employees are provided with a vast array of benefits including: group health, dental, vision, life insurance, disability, retirement, supplemental retirement plans, and tuition waivers.
We encourage our employees to be in control of their benefits. Employees can sign up and access their benefits at MyBenefits.
As the Benefits Staff, we are committed to providing excellent service to our employees. If you have any questions, please contact us via email at benefits@eiu.edu or call 217-581-5825.
Announcements
Fall into Wellness-Flu Clinic
Aetna Letter 9/9/2019
Some employees may have received a letter from Aetna on 9/9/2019. Please contact Aetna at 1-855-339-9731 for any questions or concerns regarding this letter. This applies to Aetna HMO members only.
SURS Retirement Counselor on Campus
SURS will have a retirement counselor on campus Thursday, October 3, 2019 and Friday, October 4, 2019 in the Shelbyville Room of the MLK Jr. Union. If you wish to speak to a SURS representative on these dates, they are now accepting appointments. Please call 800-275-7877 to obtain the necessary form for your appointment or log into your member account from the SURS website (www.surs.org) to complete the form online. Once the form is received, SURS will contact you to schedule a counseling date and time. Appointments will be assigned on a first-come, first-serve basis. Returning the forms in a timely manner will help to ensure a campus appointment.
Holiday World & Splashin' Safari
During the month of May, EIU employees can visit the park for as little as $19.99! Visit HolidayWorld.com/FunClub to pick your price by using the username and password listed below.
Username: Holiday730
Password: World730
Financial Wellness Portal
Financial wellness is the peace of mind you feel when you’ve balanced saving and spending…living well today and planning for tomorrow. How do you achieve it? Visit www.prudential.com/easternillinoisuniversity and find out how!
Prudential has provided EIU employees with a custom portal that includes trending topics about everyday trade-offs: vacation vs staycation, packing your lunch, and how to stay financially healthy in the New Year.
This portal is completely private and is easy to access anytime anywhere!
TIAA Monthly Webinars
Start 2019 off right and help keep your financial goals on track with TIAA's live webinars. Reserve your spot today at www.tiaa.org/webinars
The SURS Board of Trustees recently set the effective date for changes to the Money Purchase factors as July 2, 2019.
The changes to the factors are a result of a recent actuarial experience study* which recommended a reduction of the assumed rate of investment return and updated mortality tables to reflect an overall increased life expectancy. An actuarial experience study is required by state statute at least once every three years.
The board voted in March to reduce the long-term assumed rate of investment return from 7.25 percent to 6.75 percent. This rate impacts money purchase factors used in calculating retirement benefits
When SURS calculates a retirement benefit, all eligible calculation types are performed and the annuity is based on the calculation that provides the highest benefit. For members retiring on or after July 2, 2019, under the Money Purchase formula, the change in Money Purchase factors will result in an average five to six percent downward adjustment in their monthly annuity. Members can offset the adjustment by delaying retirement by approximately six to seven months for active participants and nine months for inactive participants.
The changes to the Money Purchase factors will not affect:
- Current annuitants
- Survivor benefit recipients
- Self-Managed Plan members
- Members who began participation on or after July 1, 2005
- Members whose benefit is highest under the General Formula calculation
Retirement calculations are unique to each individual member. For this reason, SURS encourages all members who are considering retirement in the next two years and who might be affected by the Money Purchase factor changes to log in to their personal account on the SURS Member Website and utilize the benefit estimator. By calculating estimates for retirement dates before and after the July 2, 2019, effective date, members can gain a clearer picture of how the factor changes could impact benefits.
For more information, read the Money Purchase Factor Change Fact Sheet or view the Money Purchase Factor Video at www.surs.org.
*The purpose of an actuarial experience study is to review the actual experience of the system in relation to the current actuarial assumptions to determine which, if any, of the assumptions need modification to provide better estimates of future liability and asset growth for the System.
