www.ides.illinois.gov Retirement/Pension Pay Questionnaire - Claimant ADJ006FC Page 1 of 1 QU27CE Rev. We mapped 30,000 Illinois educators earning $100,000+ salaries or receiving six-figure pension payouts costing taxpayers $3.7 billion annually. How are the employee and employer TRS and THIS Fund contributions calculated? Then multiply that number by your final average compensation. Representatives are available Monday - Friday, 8 AM - 6 PM CT. Employer contribution for member benefit increase: Salaries paid from federal funds: $36,236.73. Types of optional If you retire before age 60 with a reduced retirement benefit, you will receive a 3% pension increase every January 1 after you turn age 60 … Miss out on Fall Member Meetings? 38.54 percent employer contributions due: Salaries paid from federal funds: $33,000. The calculator is intended as an educational tool only. Employment After Retirement . You may increase your service credit through the conversion of unused sick leave days, purchase of optional service credit, or by using reciprocal service (service with another Illinois public pension system). Tier 1 SERS Pension Calculator. Base earnings only are paid from Title 1. District A is obligated per a negotiated agreement to pay the 9.0 percent retirement contributions for full-time teachers. Teachers' Retirement System of the State of Illinois, Chapter Seven: Optional Service Credit and Payment Options, Contribution Rates & Earnings Limitations, Social Security Notification Requirements. Please contact the Illinois Department of Insurance Public Pension Division at DOI.Pension@illinois.gov with questions. Read the materials SURS mails to your home. Federal Tax Withholding Calculator. Established in 1939, Illinois Teachers’ Retirement System works towards providing retirement, disability and survivor benefits to its participating members. A benefit calculation produced using the Benefit Calculator should not be relied on as confirmation of the accuracy of a final benefit calculation. Statements on the IMRF website are general, and the Illinois state law governing IMRF is complex and specific. Tier 2: Projected 8-year final average salary is the highest eight consecutive years of salary within the last 10 years of service. Illinois state employees may be eligible to take part in the state’s retirement system. Illinois Teacher Retirement is administered by the Teachers’ Retirement System (TRS) of Illinois. (09/2011) Claimant Information: Last Name: First Name: MI: ID or SSN: (Este es un documento importante. 3. You can increase the factors used to calculate your retirement benefit in several ways . Tier 1 members in Teachers' Retirement System of the State of Illinois first contributed to TRS before Jan. 1, 2011 or have pre-existing creditable service with a reciprocal pension system prior to Jan. 1, 2011. 2815 West Washington Street Tier 1: Projected 4-year final average salary is the highest four consecutive years of salary within the last 10 years of service. This calculator allows participants to calculate an unofficial estimated projection of a pension benefit based on information entered. Tier 2 (first contributed to TRS on or after Jan. 1, 2011 and have no pre-existing creditable service with a reciprocal pension system prior to Jan. 1, 2011) Anticipated retirement date Total service credit at retirement, including sick leave credit Planning for Retirement. Attend a SURS Plan Choice Webinar. 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