In addition to reviewing your retirement eligibility, you can use the Pension Projection Tool on the ERSRI Member Portal to estimate your benefit amount. The Pension Projection Tool uses the information in your account, which has been submitted to ERSRI by your employer throughout your career. An ERSRI Retirement Counselor will also provide you with an estimate and discuss the calculation of your benefit and the payment options available to you at your counseling appointment.

To learn more about how your retirement benefit is calculated, click the link below.

Review your retirement eligibility by logging into the ERSRI Member Portal and navigating to the Pension Projection Tool.

Member Portal

If you would like more information about retirement eligibility, use the link below.

Planning your retirement can be difficult, especially with all the choices you have to make and factors to consider. To help you as you make your decision, we encourage you to review the Retirement Session materials for your member type, which cover:

• What retirement benefits may be available to you and your beneficiaries.
• How your ERSRI retirement benefit is calculated.
• What benefit payment options are available.
• How and when to apply for retirement.
• Things to consider before retiring.

For additional resources, please use the link below.

Your retirement benefit may be considered a marital asset in a divorce proceeding, and the ex-spouse of the member may be entitled to a portion of their retirement benefit. Learn more about the impact a divorce may have on your retirement benefit.

Beneficiaries are individuals designated by an ERSRI member to receive survivor and/or death benefits after his or her death. It is important for members to keep their account updated, including beneficiary information. To designate or update your beneficiary, use the link below.

Whether you are active, deferred or retired, having your correct address, phone number and email address is very important to us so we can keep in contact with you. Use the link below to learn more about updating your address with ERSRI.

If you leave your job and terminate employment with a participating employer but are vested in the system (currently 5 years of contributing service), you may begin collecting your pension benefit when you meet your retirement eligibility criteria — as long as you do not withdraw your contributions.

In some cases, your eligibility date may be adjusted if you leave employment prior to reaching your full retirement date. However, your benefit will be the same as it was the day you terminated employment. There are options to receive your benefit prior to reaching your full eligibility date but those options require a reduction of your benefit (see the discussion of Transition Rules in the sections above).

It is important to know that once you leave active employment, ERSRI will not automatically begin sending your pension benefit when you reach you full retirement eligibility date. It is your responsibility to notify ERSRI when you become eligible and to fill out a retirement application approximately three to six months before your eligible retirement date.

If you are not vested in the system (less than 5 years of contributing service) you can take a refund of your pension contributions without interest. You can roll this money over into a qualified retirement account or take the refund as cash. You should be aware that if you take a refund of your contributions as cash you will be subject to mandatory tax withholding and may incur additional tax penalties for early withdrawal. Always consult a tax professional when considering this option.