National Retirement Security Month

National Retirement Security Month is celebrated every October to remind people of the importance of getting retirement ready.

Explore how IMRF helps its members be financially secure in their retirement.

Starting to Save for Retirement

When you join IMRF, you automatically begin saving for your retirement with every paycheck.

Additionally, every month you work for an IMRF employer you earn service credit that increases the value of your future pension.

Don’t forget, you can check your “Member Statement” in your Member Access account to understand what your pension will be when you retire and learn more about the benefits you are earning.

IMRF members also have the option to participate in the Voluntary Additional Contributions (VAC) program. This allows you to contribute up to 10% of your after-tax income (up to the Tier 2 wage cap). Every January 1, your total contributions earn 7.25% in interest. When you start saving early, you can nearly double your monthly pension. (Information about your VAC will be included in your Member Statement.)

Learn more about all your IMRF benefits by clicking on the “Members” tab, selecting your tier, and the benefit you would like to learn more about.

You can also watch IMRF’s on demand “Your Benefits Roadmap: Understanding your IMRF Benefits” workshop for an overview of our benefits.

Don’t forget to create a Member Access account to stay connected to IMRF throughout your career.

Getting Ready to Retire

When you are getting ready to retire, this is a good time to watch the on-demand workshop, “Your Road to Retirement: Navigating the Retirement Process,” which is designed to provide insight about what to expect in the five years before retirement.

IMRF also has answers to frequently asked questions about retirement that can help you prepare to submit your retirement application.

Resources after Retiring

The most important thing to know about your IMRF pension is that every dollar IMRF will pay you in future benefits, is set aside on day one of your retirement. IMRF has never missed a pension payment and never will.

Additionally, IMRF has resources on its website to support retirees during their retirement. This includes information about income taxes, working after retirement, and death benefits.

To learn about these benefits and more, click on the “Retirees” tab and click the topic you are most interested in.

Finally, every fall IMRF also holds free virtual Financial Workshops covering topics like tax decisions, Medicare, and estate planning. After you retire, look for emails announcing the workshops that will be offered.