Professional web page template for Retirement specialists in Illinois

You may retire at: Age 60, with 8 years of service credit. Any age, when your age (years whole months) plus years of service credit (years whole months) equal 85 years (1020 months) (Rule of 85). Between ages 55-59 with 25-29 years of credited service (reduced 1/2 of 1% for each month under age 60). Tier 1 Regular Retirement Formula - Illinois State Retirement Systems Illinois State Retirement Systems - Illinois.gov sers tier-1-regular-retirement-f Illinois State Retirement Systems - Illinois.gov sers tier-1-regular-retirement-f

Saving Matters! Start saving, keep saving, and stick to. Know your retirement needs. Contribute to your employerʼs retirement. Learn about your employerʼs pension plan. Consider basic investment principles. Donʼt touch your retirement savings. Ask your employer to start a plan. Put money into an Individual Retirement.

6 (b) Effecting compulsory retirement of any 7 employee who has attained 65 years of age and who, 8 for the 2-year period immediately preceding 9 retirement, is employed in a bona fide executive or 10 a high policymaking position, if such employee is 11 entitled to an immediate nonforfeitable annual 12 retirement SB0156 90th General Assembly Illinois General Assembly legislation legisnet90 sbgroups Illinois General Assembly legislation legisnet90 sbgroups

Illinois General Assembly - Bill Status for HB4699. Amends the General Assembly Article of the Illinois Pension Code. Requires the System to implement a Tier 3 plan by July 1, 2025 that aggregates State and employee contributions in individual participant accounts that are used for payouts after retirement. Bill Status for HB4699 - Illinois General Assembly Illinois General Assembly legislation BillStatus Illinois General Assembly legislation BillStatus

Participants in SURS are eligible to retire at the following age and service levels: Age 55 with 8 or more years of service (Benefits are reduced for early retirement if the employee retires under the general formula between ages 55 and 60) Age 62 with 5 or more years of service. Any age with 30 or more years of SURS 6% Frequently Asked Questions Understanding to Whom System Human Resource Services - University of Illinois System policy compliancetoolkit System Human Resource Services - University of Illinois System policy compliancetoolkit

To receive a pension benefit, you must have a minimum of 10 years of credited service with SERS. You may retire at: Age 67, with 10 years of service credit. Between ages 62-67 with 10 years of credited service (reduced 1/2 of 1% for each month under age 67).

The typical advice is to replace 70% to 90% of your annual pre-retirement income through savings and Social Security. With this strategy, a retiree who earns around $63,000 per year before retirement should expect to need $44,000 to $57,000 per year in retirement.

Under the Illinois Secure Choice Savings Program Act, Illinois employers with at leave five (5) employees, that have been in business for two or more years, and that do not offer a qualified retirement plan must either begin offering a qualified plan or automatically enroll their employees into the Illinois Secure