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Changes from the “Tier I” pension law include raising the minimum eligibility to draw a retirement benefit to age 67 with 10 years of service, initiating a cap on the salaries used to calculate retirement benefits, and limiting cost-of-living annuity adjustments to the lesser of 3 percent or half of
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Public Act 96–0889, which was signed into law in the spring of 2010, adds a new section to the
Pension Code that applies different benefits to anyone who first contributes to TRS on or after January 1, 2011, and does not have previous service credit with a pension system that has reciprocal rights
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created the
Teachers’ Retirement System of the State of Illinois (TRS or the System) in 1939 for the purpose of providing retirement annuities, and disability and survivor benefits for educators employed in public schools outside the city of Chicago. The System's enabling legislation is in the
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Inactive members are no longer contributing to the System but have service credit that will entitle them to draw a benefit or refund when statutory eligibility requirements are met. As of June 30, 2021, there were 145,769 inactive members.
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Annuitants are persons receiving a retirement annuity or disability retirement annuity. Beneficiaries are persons receiving a survivor benefit or reversionary annuity. As of June 30, 2021, there were 127,518 annuitants and beneficiaries.
199:, not compounded. The retirement formula is unchanged. The new pension law does not apply to anyone who has TRS service prior to January 1, 2011. These members remain participants of Tier I.
127:. Persons employed in certain state agencies and statewide or national organizations related to education are also active TRS members. As of June 30, 2021, there were 159,027 active members.
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TRS members fall into the following categories: active, inactive, annuitant, and beneficiary. Active members are full-time, part-time, and substitute
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Subject to various qualification requirements, members and annuitants of TRS may be eligible for a range of benefits including:
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341:(Electronic, Sept. 2013 ed.). Online: Teachers' Retirement System of the State of Illinois. September 2013. p. 13
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365:(April 2014 ed.). Online: Teachers' Retirement System of the State of Illinois. April 2014. p. 15
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public school personnel employed outside the city of
Chicago in positions requiring licensure by the
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and other financial benefits for teachers and other workers in education in
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with TRS. These members are referred to as “Tier II” members.
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Stan Rupnik, Executive
Director and Chief Investment Officer
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Teachers' Retirement System of the State of
Illinois (TRS)
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Teachers' Retirement System of the State of
Illinois (TRS)
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314:. Teachers' Retirement System of the State of Illinois
288:. Teachers' Retirement System of the State of Illinois
262:. Teachers' Retirement System of the State of Illinois
236:. Teachers' Retirement System of the State of Illinois
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Teachers' Retirement System of the State of
Illinois
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Teachers' Retirement System of the State of
Illinois
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Teachers' Retirement System of the State of
Illinois
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Teachers' Retirement System of the State of
Illinois
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Teachers' Retirement System of the State of Illinois
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Teachers' Retirement System of the State of Illinois
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181:appropriations from Illinois state government.
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111:Illinois Pension Code at 40 ILCS 5/16-101
63:Matthew Hunt, President, Board of Trustees
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434:Public pension funds in the United States
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362:Evolution of the TRS Benefit Structure
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209:State Universities Retirement System
168:TRS has several sources of funding:
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125:Illinois State Board of Education
90:government agency dealing with
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439:Public education in Illinois
230:"Acting Executive Contacts"
195:the annual increase in the
178:employer contributions, and
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429:State agencies of Illinois
108:Illinois General Assembly
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338:Tier I TRS Member Guide
385:"Tier II Member Guide"
172:member contributions,
197:Consumer Price Index
256:"TRS Board Members"
186:Creation of Tier II
153:disability benefits
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175:investment income,
147:retirement annuity
159:(post-retirement)
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44:Headquarters
423:Categories
216:References
115:Membership
395:8 August
369:8 August
345:8 August
318:8 August
292:8 August
266:8 August
240:8 August
203:See also
139:Benefits
121:Illinois
96:Illinois
92:pensions
164:Funding
102:Purpose
71:Website
36:Formed
391:. TRS
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397:2018
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
