State of Illinois

How do I determine how much Unemployment Benefits I will receive in Illinois if I am on a pension or Social Security?

Social Security and Pension formula unemployment benefits Illinois:

You will be paid or have received a retirement pension or other similar periodic payment (including Social
Security) for the week for which you claim benefits. One-half of your Social Security or retirement pension payment (if paid for in part by your base period or chargeable employer) or all of a retirement pension payment (if the base period or chargeable employer paid all of its cost) is deducted from your unemployment insurance benefits.

Retirementpension/SocialSecurity

is determined by using the following calculation: monthly amount of pension is divided by thirty (30) then multiplied by seven (7), which is the weekly pension amount. If the employer paid any part of the pension, then the weekly amount is divided by two (2) to determine one-half (50%).
Primary Social Security benefits are always 50% deductible from your unemployment insurance benefit amount. For example, an individual receives $1030.50 a month in retirement pension, of which the employer paid part of the pension and the weekly benefit amount is $331.00.

The formula is as follows

$1030.50 ÷ 30 = $34.35 . . . . . . Daily Amount
$34.35×7 = $240.45 . . . . . . . . . Weekly Retirement Amount
$240.45÷2 = $120.225 . . . . . . . 50% of Weekly Amount
$331.00 – $120.225 = $210.775 . .Round to Next Highest Dollar Benefit amount after
retirement deductions . . . . . . . . $211.00

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