Illinois TRS pays 2.2% a year, capped at 75% of final average salary, which you hit at 34 years. Tier 1 is unreduced at 62 with 5 years, 60 with 10 or 55 with 35, and Tier 1 members can retire from 55 with 20 years at 6% off for each year under 60. Tier 2 is unreduced only at 67 with 10 years, with 6% off for each year retiring from 62.
Tier 1 (first contributed before Jan 1, 2011)
| Age | 10 yrs | 15 yrs | 20 yrs | 25 yrs | 30 yrs | 35 yrs |
|---|---|---|---|---|---|---|
| 55 | — | — | 30.8% | 38.5% | 46.2% | 75.0% |
| 56 | — | — | 33.4% | 41.8% | 50.2% | 75.0% |
| 57 | — | — | 36.1% | 45.1% | 54.1% | 75.0% |
| 58 | — | — | 38.7% | 48.4% | 58.1% | 75.0% |
| 59 | — | — | 41.4% | 51.7% | 62.0% | 75.0% |
| 60 | 22.0% | 33.0% | 44.0% | 55.0% | 66.0% | 75.0% |
| 61 | 22.0% | 33.0% | 44.0% | 55.0% | 66.0% | 75.0% |
| 62 | 22.0% | 33.0% | 44.0% | 55.0% | 66.0% | 75.0% |
| 63 | 22.0% | 33.0% | 44.0% | 55.0% | 66.0% | 75.0% |
| 64 | 22.0% | 33.0% | 44.0% | 55.0% | 66.0% | 75.0% |
| 65 | 22.0% | 33.0% | 44.0% | 55.0% | 66.0% | 75.0% |
| 66 | 22.0% | 33.0% | 44.0% | 55.0% | 66.0% | 75.0% |
| 67 | 22.0% | 33.0% | 44.0% | 55.0% | 66.0% | 75.0% |
Tier 2 (first contributed Jan 1, 2011 or later)
| Age | 10 yrs | 15 yrs | 20 yrs | 25 yrs | 30 yrs | 35 yrs |
|---|---|---|---|---|---|---|
| 55 | — | — | — | — | — | — |
| 56 | — | — | — | — | — | — |
| 57 | — | — | — | — | — | — |
| 58 | — | — | — | — | — | — |
| 59 | — | — | — | — | — | — |
| 60 | — | — | — | — | — | — |
| 61 | — | — | — | — | — | — |
| 62 | 15.4% | 23.1% | 30.8% | 38.5% | 46.2% | 52.5% |
| 63 | 16.7% | 25.1% | 33.4% | 41.8% | 50.2% | 57.0% |
| 64 | 18.0% | 27.1% | 36.1% | 45.1% | 54.1% | 61.5% |
| 65 | 19.4% | 29.0% | 38.7% | 48.4% | 58.1% | 66.0% |
| 66 | 20.7% | 31.0% | 41.4% | 51.7% | 62.0% | 70.5% |
| 67 | 22.0% | 33.0% | 44.0% | 55.0% | 66.0% | 75.0% |
Percent of final average salary, before tax and before any survivor-option reduction. Green cells are unreduced. A dash means you cannot retire yet at that age and service.
Turning a percentage into dollars
Multiply the percentage by your final average salary and divide by twelve. At 60% of an $80,000 average, the pension is $48,000 a year, or $4,000 a month. Tier 1: highest 4 consecutive years of the last 10. Tier 2: highest 8 consecutive years of the last 10, with a salary cap. The Illinois TRS calculator does the arithmetic for any age, service and salary, and the pension by years table shows monthly amounts at common salaries.
How to use the chart
Find your expected service in the columns and read down to see how the benefit changes as you wait. The jump from one row to the next shows what an extra year at work is worth. When a whole row turns green, that age is unreduced for that service. To find the exact day you reach it, use the retirement date finder.