Upon retiring from an IMRF position and being vested with IMRF, you are eligible for a monthly pension which is payable for the rest of your life.

Vesting refers to the number of years of service credit you need to qualify for an IMRF Pension.  With the passing of Public Act 96-0889, there are now 2 Tiers that determine vesting.  You are in Tier 1 if you were hired and enrolled before January 1, 2011, or previously were enrolled in IMRF or in a reciprocal system (TRS, SERS, SURS, etc.).  If you do not meet these requirements, you are in Tier 2.

• IMRF Tier 1 vs IMRF Tier 2 - Under IMRF Tier 1, you qualify for an unreduced pension at age 60 (normal retirement age) if you have at least 8 years of service credit or at age 55 if you have 35 or more years of service credit.  You qualify for a reduced pension at age 55 and at least 8 years of service credit.

Under IMRF Tier 2, you qualify for an unreduced pension at age 67 (normal retirement age) if you have at least 10 years of service credit or at age 62 if you have 35 or more years of service credit.  You qualify for a reduced pension at age 62 and at least 10 years of service credit.

Click the above link for more information on IMRF Tier 1 vs IMRF Tier 2 benefits.

• SLEP Tier 1 vs SLEP Tier 2 - Under SLEP Tier 1, you qualify for an unreduced pension at age 50 (normal retirement age) if you have at least 20 years of service credit. 

Under SLEP Tier 2, you qualify for an unreduced pension at age 55 (normal retirement age) if you have at least 10 years of service credit.   You qualify for a reduced pension at age 50 if you have 10 or more years of service credit.

Click the above link for more information on SLEP Tier 1 vs SLEP Tier 2 benefits.

IMRF also allows Voluntary Additional Contributions (VAC).  Contribute up to 10% of earnings, and VAC on deposit at beginning of a year are credited with interest (7.5% current rate) at the end of the year.  Unlike regular contributions, employer does not contribute, nor are these contributions tax-deferred.  Enrollment and changes can be made through the Benefits section in Employee Self Service.

If you are married or in a civil union for at least one year prior to the date of retirement, a monthly surviving spouse pension may be payable.