Wednesday, May 17, 2006

Reciprocity in teachers pensions.

Reciprocity
TRS is one of 13 Illinois public pension systems covered by the Illinois Retirement Systems Reciprocal Act [40 ILCS 5/20]. The Reciprocal Act allows one or more years of service credit earned through any reciprocal retirement system to be counted toward retirement. Each system pays a portion of the retirement benefits. The member generally receives a higher total retirement benefit by retiring under the Reciprocal Act than by retiring independently through each system. The reciprocal systems are:
• Teachers’ Retirement System of the State of Illinois
• County Employees’ Annuity and Benefit Fund of Cook County
• Forest Preserve District Employees’ Annuity and Benefit Fund of Cook County
• General Assembly Retirement System
• Illinois Municipal Retirement Fund
• Judges’ Retirement System
• Laborers’ Annuity and Benefit Fund of Chicago
• Municipal Employees’ Annuity and Benefit Fund of Chicago
• Park Employees’ Annuity and Benefit Fund of Chicago
• Public School Teachers’ Pension and Retirement Fund of Chicago
• Metropolitan Water Reclamation District Retirement Fund
• State Employees’ Retirement System of Illinois
• State Universities Retirement System

Source Illinois State government.

No comments: