How to Calculate Illinois State Retirement

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The state of Illinois offers its employees retirement benefits under the State Employees' Retirement System (SERS). A member of SERS may retire when his age plus years of service equal 85; between the ages of 55 to 60 with at least 25 years of service; or at the age of 60 with at least eight years of service.

Calculate your credited service. If you are considered a monthly employee, calculate your credited service by adding up your months of employment. You receive one monthly service credit per month. If you have no worked a whole month, you receive one monthly service credit if you have worked 15 to 30 days. You will receive half a monthly service credit if you work eight to 14 days. If you have worked less than eight days, you will receive ¼ of a monthly service credit.

If you are an hourly employee, you receive one monthly service credit for every 75+ hours worked. If you have worked 38 to 74 hours, you will receive one half a monthly service credit. If you have worked less than 38 hours, you will receive ¼ of a monthly service credit.

If you are a daily or per diem employee, you will receive one monthly service credit for working 10+ days. You will receive half of a monthly service credit for five to nine workdays. If you have worked less than five days, you will receive ¼ of a monthly service credit.

Use your service credits and age to determine whether you are eligible to retire. An Illinois state employee may retire when his age and years of service equal 85 years; between the ages of 55 to 60 with a minimum of 25 years of service credit; or at the age of 60 with a minimum of eight years of service credit.

Calculate your final average compensation by determining the 48 highest-salary consecutive months of service within the last 120 months of service.

Calculate your monthly pension. If you are covered under Social Security and are at least 60 years old, multiply your number of credited service by 1.67 percent. Then multiply that number by your final average compensation. The resulting number is your monthly pension.

If you are not covered by Social Security and are at least 60 years old, multiply your number of credited service by 2.2 percent. Then, multiply that number by your final average compensation. The resulting number is your monthly pension.

Calculate any deductions or increases to your monthly pension. If you are under 60, reduce your pension by half of one percent for each month you are under the age of 60. If you retire under the Rule of 85 or if you retired at age 60, increase your pension by three percent every year on January 1 following your first full year of retirement.

Tips & Warnings

  • If you are considering retirement, be sure to contact your state agency's Retirement Coordinator who can send you a benefits application and provide you with the necessary information to calculate your retirement.

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