Main Content
Search Results for pension calculation
Employer Guide Chapter 3: Creditable Earnings
In general, “creditable earnings” are forms of compensation that are recognized by TRS as salary for reporting and retirement purposes. Creditable earnings are the basis upon which member contributions, employer contributions, and benefits are calculated.
Employer Guide Chapter 8: Excess Costs
Revised Sept. 2022
The required employer contributions must be paid by the employer and cannot be bargained or negotiated as a member contribution. These payments cannot be passed on or be paid by a TRS member.
Chapter 6: Optional Service Credit
You can obtain additional credit towards your retirement through purchases of optional service or repayment of refunds.
The purchase of optional service performed prior to Jan. 1, 2011 does not change your status from Tier 2 to Tier 1 membership.
Divorce/QILDRO
Qualified Illinois Domestic Relations Orders (QILDROs) are court orders that direct TRS to pay a portion of a member’s benefit or refund to an alternate payee, typically a former spouse. QILDROs are issued under the Illinois Pension Code, 40 ILCS 5/1-119.