On July 1, 2024, automatic contribution escalation was added to the already existing automatic enrollment program. In addition, those who had been automatically enrolled since the DCP added automatic enrollment on July 1, 2023, were retroactively enrolled in automatic contribution escalation, effective July 1, 2024. Members didn’t need to take any action to keep their automatic enrollment settings. By default, 3% of their pay was deducted before taxes and contributed to their account. This amount was automatically increased by 1% each year until it reaches a maximum of 10%. Their money was invested in the SURS Lifetime Income Strategy (LIS), a professionally managed target date portfolio designed to help them grow their retirement savings while working and provide guaranteed income for life in retirement. As they near retirement, part of their savings can be moved into a Secure Income Portfolio (SIP), which ensures a steady monthly income they won’t outlive. This transition happens automatically. Members could also choose their own contribution rate and investment options or opt out of the automatic settings within 30 days.
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- August 10, 2025 Create Date
- January 15, 2026 Last Updated
