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Pension Estimate Calculator now available on your Member Services account. More information Pension Estimate Calculator Training Video
Calculating Your Formula. Coordinated: 1.67% for each year of service. Non-Coordinated: 2.2% for each year of service. Coordinated Example: The member is coordinated with Social Security, is 60 years old, has 30 years of credited service, and a final average compensation of $3,600 per month.
State Employees Pension Calculators. SERS: SERS is a $15.6 billion public employee retirement system, serving over 158,000 members and beneficiaries of the states’ agencies and boards.
9 Ιουλ 2021 · The Illinois state retirement system offers an Illinois state retirement calculator that will help you determine your benefit amount. To use the calculator, you must know your hire date, retire date, annual salary, reciprocity type, unpaid break days and the effective date of the benefit.
Refer to the FY2024 Rates and FY2025 Rates pages for contribution amounts. Full-time employees can do their own plan comparisons by logging on to MyBenefits.illinois.gov. There you can compare different health plans, dental options, optional life coverage and/or number of dependents.
Here we take a look over the Illinois retirement system, including the different plans, programs and taxes that are involved in the state...
Each fund has a different equation used to calculate pension benefits. The pension status field refers to the relationship of the annuitant to the payment. The categories are retiree, inheritor, QILDRO and disability. A retiree is the most simple. This is a person who worked for the employer, retired and then collected the benefit.
