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Retirement FAQs
- 1. If I retire and receive pension payments amounting to more than my contributions, will my spouse still be entitled to survivor benefits if I die?
- 2. What is the Retirement Systems' Reciprocal Act?
- 3. I contributed to SERS and Social Security. When I retire, will my SERS benefit be reduced because of Social Security?
- 4. What is the Level Income option?
- 5. Will my pension benefit cease after I receive payments equal to the contributions I made to SERS as an active employee?
- 6. How soon should I request an application for a SERS pension?
- 7. When is my first pension check paid?
- 8. When will I receive my future pension checks?
- 9. What is the best time of the month to retire?
- 10. Can my pension benefit be divided because of a divorce?
Regardless of the pension payments made to you, your spouse will be entitled to a survivor benefit, assuming he/she is otherwise qualified.
A: The Retirement Systems' Reciprocal Act provides that if an employee has at least one year of pension credit established in more than one Retirement System covered under the Reciprocal Act will be considered together at the time of retirement or death of an employee. The purpose of the Act is to ensure full and continuous pension credit for service in public employment in the State of Illinois, and the transfer of employment from one governmental unit to another.
No, there is no SERS offset. However, if your pension is calculated using service not coordinated with Social Security, this service may affect your Social Security benefit. Contact the Social Security Administration for more information.
The Level Income option allows an employee who is coordinated with Social Security to increase their SERS retirement benefit prior to becoming eligible for Social Security benefits. When the retiree qualifies for Social Security, their SERS benefit is reduced. This allows an individual to have a more constant income during their retirement years.
No. Pension benefits are payable to a retired member for life, regardless of contributions.
Approximately 90 days prior to your retirement, you should contact your agency's Retirement Coordinator or SERS and request a pension application.
Benefits are paid as soon as we receive your final payroll information and forms from you and your agency. In general, it takes up to 12 weeks after your removal from the payroll to receive your first check.
Pension payments are mailed on the 19th of each month, unless the 19th is on a weekend or holiday. In this case, payments are mailed on the last business day before the 19th.
We recommend resigning from your agency in the second pay period of the month (from the 16th through the end of the month), preferably the last day of the month. The reason for this is your pension and group insurance begin with SERS on the first of the month following your resignation. If you resign too soon in the first pay period of a month, your insurance would be terminated, you would have a lapse in coverage (unless you pay a COBRA premium), and insurance benefits would not start until the first of the next month. If you resign in the second pay period of the month, you will not have a lapse in insurance coverage.
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 ex-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 survivor annuities, or disability benefits. (QILDRO Information and Forms.)