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NOTICE OF INTENT TO RETIRE UNDER EMPLOYERS IMRF EARLY RETIREMENT INCENTIVE IMRF Form 5.21 (Rev. 1/2013) INSTRUCTIONS IMRF employers can adopt by resolution the IMRF Early Retirement Incentive (ERI).

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How to fill out the Form 521 - IMRF - Imrf online

Filling out the Form 521 - IMRF - Imrf is an essential step for individuals intending to retire under the Early Retirement Incentive program. This guide will provide clear and supportive instructions to help you successfully complete the form online.

Follow the steps to accurately complete your Form 521 - IMRF - Imrf.

  1. Click ‘Get Form’ button to obtain the form and open it in the editor.
  2. Begin by entering your first name, middle initial, and last name. If applicable, include any suffixes such as Jr., Sr., or II.
  3. Include your IMRF Member ID to ensure your information is correctly linked to your account.
  4. Provide your current mailing address. This should include your street address, city, state, and ZIP code plus four.
  5. Enter your date of birth in the MM/DD/YYYY format to verify your eligibility.
  6. In the declaration section, indicate your election to participate in the IMRF early retirement incentive program by marking the appropriate section.
  7. Review the acknowledgements regarding the conditions of the early retirement incentive. Ensure you understand each point and are prepared to comply.
  8. Sign the form in the designated area, confirming your participation and understanding of the terms.
  9. Date your signature in the MM/DD/YYYY format.
  10. After completing the form, save your changes, and download or print the final document. You also have the option to share it as needed.

Complete your Form 521 - IMRF - Imrf online today to ensure a smooth retirement process.

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Receiving an IMRF Pension To begin receiving an IMRF Tier 2 Regular Plan pension, you: Must have at least 10 years of service credit (can include reciprocal retirement system service credit).

IMRF retirement pensions are subject to federal income tax. However, when most members retire, a part of the pension payment they receive represents their own contributions.

The IMRF Pension A Regular Tier 1 member needs at least eight years to vest (be eligible) to receive an IMRF Regular plan pension. The earliest age a Regular Tier 1 member can receive a pension is age 55 (reduced) and age 60 (full pension).

Although you can retire as early as age 62, age 67 is your full retirement age. Your pension may be reduced if you retire before age 67, depending upon the amount of service credit you have.

If an ERI retiree returns to work for any IMRF employer in any position, even as an independent contractor, his or her pension will be affected. Not only will the pension be suspended, but severe financial penalties apply.

If you retire between age 55 and 60 with less than 30 years of service credit: your pension is reduced 1/4% for each month under age 60. − Under age 60 or − Of service credit less than 35 years. If you retire with 35 or more years of service credit and are at least age 55, there is no reduction.

Your 2023 increase will be 3.00%, and is effective January 1, 2023. The amount of your annual increase is set by the Illinois Pension Code and is not affected by investment performance.

You Never Lose Your Contributions You are guaranteed a return of your IMRF contributions, paid as either: Your IMRF pension. A refund. Death benefits.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232