Retirement Benefits

for Tier 1 Revised ECO Plan Members
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Your IMRF pension gives you life-long income protection.

Qualifying for a Pension

Participation in ECO does not change vesting requirements. The earliest retirement age is:

You need eight years of Revised ECO Tier 1 service in the same elected position with the same county to qualify for the Revised ECO Tier 1 formula. If you do not earn eight years of ECO services in the same elected position with the same county, your

The rules governing reduction of pension for Tier 1 Regular Plan retirement prior to age 60 still apply to any portion of your pension calculated with Regular service credit. However, the reduction is not applicable if you are eligible for a SLEP Tier 1 pension or to any portion of a pension attributable to ECO service.

Pension Formula

A Tier 1 ECO pension is calculated as follows (credit is given for partial years after eight years in the same position with the same county):

However, the total pension at retirement cannot exceed 80% of your final rate of earnings.

Final Rate of Earnings (FRE)

Under the Tier 1 Revised ECO Plan, your FRE is the average of the highest 48 months of ECO service:

The Tier 1 Revised ECO FRE does not include any lump sum payments for vacation, sick leave, overtime, personal leave, etc. The Revised ECO Tier 1 FRE does include stipends.

A separate FRE will be calculated for each elected county position you hold for eight or more years.

Alternative FRE Formula: Lifetime FRE

If a member has higher earnings at the beginning of his or her career, an alternate FRE is used. The Lifetime FRE averages all of a member’s earnings reported by all of his or her IMRF employer(s) over the member’s entire IMRF career.

When you retire, IMRF will calculate your FRE using both methods and will use the FRE that provides you with the larger pension.

Service Credit

Service credit is your total time under IMRF, stated in years and fractions. Service is credited monthly while you are working or receiving IMRF disability benefits.

Reaching Maximum ECO Pension Benefit

A Revised ECO Tier 1 reaches the maximum ECO retirement benefit after earning 20 years of ECO service credit. The 80% maximum Revised ECO Tier 1 pension can also be earned if you have a combination of both ECO Tier 1 service and Regular or SLEP service (which has not been converted to ECO).

If You Do Not Vest for ECO

You need eight years of Revised ECO Tier 1 service in the same elected position with the same county to qualify for the Revised ECO Tier 1 formula.

If you do not earn eight years of ECO service in the same elected position with the same county, your:

If You Vest for ECO and Have Other IMRF Service

If you retire with both ECO and Regular or SLEP service credit

Annual Pension Increases

Under Revised ECO Tier 1, your pension is increased by 3% of the original amount on January 1 of each year after you retire. If your pension effective date is something other than January 1, your first year increase will be prorated based on the number of months you are retired that first year.

Supplemental Benefit Payment ("13th Payment")

After you have retired and have received pension payments for at least 12 months in a row, you will be eligible for a supplemental benefit payment every July. When you first retire, you must have retired on or before June 30 to receive a 13th Payment the next year. For example:

If you retire… You will receive your first 13th Payment in…
On or before June 30, 2017 July of 2018
After June 30, 2017 July of 2019

You will receive this supplemental payment approximately one week after your usual July pension payment. The amount varies every year, but it will always be less than your monthly pension amount.