Professional Development Day, Innovation Celebration, LEAGUE campaign kickoff March 24

Professional Development Day is Tuesday, March 24. Several more updates have been made to afternoon presentation locations. See the attached flyer for the most current information: Spring 2015 PDD Schedule.  Attend the LEAGUE faculty/staff giving campaign kickoff beginning at 11:30 a.m. and the ITDE Innovation Celebration (see below).

Join Instructional Technology and Distance Education on
Professional Development Day, Tuesday, March 24 for the
innovationcelebrationlogo[1] being held from 1-3 p.m. in
A. Lincoln Commons.
Stop by to see the innovative instruction and student learning initiatives happening at LLCC.

A detailed list and descriptions of exhibits can be found at:
http://www.llcc.edu/itde/innovation-celebration/

Anthem data breach and HealthLink insurance

Some employees have received correspondence from Anthem indicating that they may have been impacted by Anthem’s recent data breach. A number of companies, plans and lines of coverage were affected, dating all the way back to 2004. However, if you received correspondence, I can confirm that your information as a LLCC HealthLink medical plan participant was not part of the data that was hacked (see attached). The data of those who may have been impacted was affiliated with some other current or former insurance coverage that you or a family member had between 2004 and the present.

If you receive a letter, please follow the instructions provided in the letter. If you did not receive a letter but would like more information, please go to www.anthemfacts.com.

Posted in HR |

Spring 2015 Professional Development Day is March 24

Professional Development Day is Tuesday, March 24. The day includes opportunities for instructional staff department meetings and attending a CQI session (must register). Also, the LEAGUE faculty and staff giving campaign kickoff, the ITDE  Innovation Celebration and professional development workshops are scheduled. Read the attached Professional Development Day schedule: Spring 2015 PDD Schedule

Posted in HR |

SURS announces Money Purchase factor changes beginning Jan. 2016

Effective Jan. 4, 2016, the Money Purchase factors will change. 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 five years.

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 Jan. 4, 2016, under the Money Purchase formula, the change in Money Purchase factors will result in an average 6-7% downward adjustment in their monthly annuity. Members can offset the adjustment by delaying retirement by approximately nine (9) months for active participants and 11 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
• Member whose benefit is highest under the General Formula calculation
• Members retiring under the Money Purchase formula prior to Jan. 4, 2016

Retirement calculations are unique to each individual member. For this reason, SURS encourages all members who are considering retirement in the next year and who might be affected by the Money Purchase factor changes to log on to their personal account on the SURS Member website and utilize the benefit estimator. By calculating estimates for retirement dates before and after the January 4, 2016, effective date, members can gain a clearer picture of how the factor changes will impact benefits.

For more information, read the Money Purchase Factor Change Fact Sheet or view the Money Purchase Factor Change video, both available at www.surs.org

Posted in HR |

SURS Update: Money Purchase Factor Change

Effective Jan. 4, 2016, the Money Purchase factors will change. 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 five years.

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 Jan. 4, 2016, under the Money Purchase formula, the change in Money Purchase factors will result in an average 6-7% downward adjustment in their monthly annuity. Members can offset the adjustment by delaying retirement by approximately nine (9) months for active participants and 11 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
• Member whose benefit is highest under the General Formula calculation
• Members retiring under the Money Purchase formula prior to Jan. 4, 2016

Retirement calculations are unique to each individual member. For this reason, SURS encourages all members who are considering retirement in the next year and who might be affected by the Money Purchase factor changes to log on to their personal account on the SURS Member website and utilize the benefit estimator. By calculating estimates for retirement dates before and after the January 4, 2016, effective date, members can gain a clearer picture of how the factor changes will impact benefits.

For more information, read the Money Purchase Factor Change Fact Sheet or view the Money Purchase Factor Change video, both available at www.surs.org

Posted in HR |