Attorney General Raoul Warns State Workers and Retirees About Investment Scams

CHICAGO — Illinois Attorney General Kwame Raoul and the State Employees Retirement System are warning state employees and retirees about investment scams involving unsolicited emails that claim to offer retirement planning assistance. Officials said the messages often suggest an affiliation with the retirement system or the state and include links to schedule appointments, but they are not connected to state government and are instead used to collect personal information or sell financial products. Raoul said recipients should not respond or click on any links and should report the messages to the retirement system. State retirement officials said they have received hundreds of reports of emails from individuals posing as investment advisors who claim to help with pension questions such as retirement timing and benefit options. Officials said the retirement system does not initiate contact by email to schedule financial counseling unless a member first requests it. The State Employees Retirement System said it is working with authorities to stop the messages and warned that the senders often attempt to sell insurance or annuity products. Officials urged employees and retirees to avoid sharing personal information and to forward suspicious emails to reportfraud@srs.illinois.gov. They also said legitimate retirement information is available through official state resources and advised those seeking financial guidance to consult certified professionals.