Agencies
Services
Refunds FAQs
- 1. How long does it take to receive a refund from SERS?
- 2. I am leaving state service and want to take a refund. When can I apply, and what forms do I need?
- 3. Can I get a refund for the state-paid portion of my contributions?
- 4. Can I take a partial refund and leave the rest of the money in my SERS account?
- 5. Is there a hardship provision for withdrawing money from my SERS account?
- 6. Can I borrow money from my SERS account?
- 7. Is interest paid as part of a refund?
- 8. Can my refund of contributions be divided because of a divorce?
1. How long does it take to receive a refund from SERS?
Refunds are generally paid within 60-90 days from date of application. SERS must first confirm and certify with the employing agency that payrolls have cleared and employment has terminated.
2. I am leaving state service and want to take a refund. When can I apply, and what forms do I need?
The law governing SERS requires that you be off the payroll for 14 days before you are eligible and can apply for a refund. Federal law mandates us to advise you of the amount in your SERS account and the tax consequences for receiving a refund.
3. Can I get a refund for the state-paid portion of my contributions?
Yes. When you terminate state employment, you are eligible for the employee contributions paid by you or "picked-up" by the State of Illinois.
4. Can I take a partial refund and leave the rest of the money in my SERS account?
If you take a refund, you can only receive the full amount.
5. Is there a hardship provision for withdrawing money from my SERS account?
No, you may not withdraw money from your SERS account for a hardship provision.
6. Can I borrow money from my SERS account?
You may not borrow money from your SERS account for any reason or condition.
7. Is interest paid as part of a refund?
No. By law, you are entitled to receive the employee contributions only.
8. Can my refund of contributions be divided because of a divorce?
Yes, if a Qualified Illinois Domestic Relations Order has been issued by an Illinois Court. A QILDRO does not establish a new benefit, nor does it create a new member or beneficiary. Generally, the QILDRO orders the payment of a benefit to the spouse as the alternate payee. It may also be payable to a child or other dependent as the alternate payee. The QILDRO does not apply to lump sum death benefits, survivor annuities, or disability benefits. (QILDRO Information and Forms.)