Today, I write regarding some important developments regarding pension reform in the state of Illinois.
- Wednesday, a circuit court judge issued a temporary restraining order against implementing the pension reform law enacted last fall until the court can rule on the constitutionality of those measures.
- On Monday, the State Universities Annuitants Association reached a tentative agreement with Attorney General Lisa Madigan to postpone the implementation of the pension law until July 1, 2015, allowing SURS members to delay their retirement decisions until the constitutionality of the new law is determined.
- A week ago, the SURS board addressed an unintentional glitch in the pension reform law, approving an emergency administrative rule that uses June 30, 2014, as the deemed retirement date for calculating the Minimum Money Purchase Annuity provision of the law.
These recent events create additional confusion for the NIU employees who are uncertain about their future plans or are questioning their retirement decisions. To support these valued members of our faculty and staff at this challenging time, the university intends to be as flexible and responsive as possible.
We will continue to communicate as new information becomes available so that each of us can make informed decisions and move the university forward.
Thank you for your continued patience and for keeping the lines of communication open as we make and revise plans for the 2014-15 academic year and beyond.