Illinois Teacher Retirement


Illinois Teacher Retirement is administered by the Teachers’ Retirement System (TRS) of Illinois. Established in 1939, Illinois Teachers’ Retirement System works towards providing retirement, disability and survivor benefits to its participating members. All the full-time, part-time as well as substitute Illinois public school employees are the member of TRS Illinois. Some of the employees working in various state agencies relating to education are also the members of TRS.

Illinois Teacher Retirement Benefits

The Illinois teacher can enjoy a number of retirement benefits which can be listed as below.

Retirement Annuity

In Illinois Teacher Retirement, teachers get entitled to a monthly retirement annuity when they stop working. However, one needs to fulfill the following criteria in order to get eligible for the monthly retirement annuity:

  • 62 years of age with service of 5 years, or
  • 60 years of age with service of 10 years, or
  • 55 years of age with service of 20 years ( will be entitle to discounted annuity in that case), or
  • 55 years of age with service of 35 years

Calculation of Retirement Benefits

Illinois Teacher Retirement benefits are calculated based on the average salary and the number of years of service of the employees. The formula uses average of the creditable earnings in the top four consecutive years (within last 10 years) as the average salary, which is again multiplied by 2.2 percent for each year of service to find out the retirement benefits of the individuals who earned service after June 1998.

However, for service earned before the specified time, the applicable percentage would be as below:

  • 1.67% for each of first 10 years of service, plus
  • 1.90% for each of second 10 years of service, plus
  • 2.10% for each of third 10 years of service, plus
  • 2.30% for each year of service more than 30 years

In Illinois Teacher Retirement, the maximum age retirement annuity cannot be more than 75% of the final average salary.

Other Benefits

Teachers can also enjoy other benefits as well:

  • Early Retirement Option (EPO): Teachers have the option to retire before 60, yet can get non-discounted annuity by making a contribution.
  • Disability Benefits: Teachers are entitled for occupational and non-occupational temporary disability benefits.
  • Death Benefits: Designated beneficiaries get a survivor benefit upon the death of the employee.