Self-Managed Plan (SMP) Participants

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At retirement, you have the option of changing your plan to an annuity. If you choose an annuity, then you are entitled to health insurance. SUAA works to ensure that the College Insurance Plan is there when you need it.

 

At retirement, you must make investment decisions offered by SURS. Should you fail to do so, your funds are invested in a default investment fund.  SUAA worked to provide you with the ability to transfer balances out of a default investment fund during time periods designated by SURS.

 

SUAA advocates for equitable employer retirement contributions. The state’s contribution averages about 9.1 percent of the total earnings of all SURS participants in the Traditional and Portable plans. However, the state contributions toward the SMP equal 7.6 percent of earnings – of which up to 1 percent is used to provide the participant with eligibility for disability benefits.