The following definitions are provided to help you understand terms we regularly use in our seminars, correspondence, and publications. These definitions are general, not technical, in nature. For detailed definitions, please see the Illinois Pension Code, Article 16.

V

verified service

Teaching service that has been properly reported to TRS by a former employer and may be purchased as optional service credit.

vesting period

The minimum number of years of service required to obtain a monthly retirement benefit.

veto

An executive power exercised by the governor denying passage of a bill, thereby sending the bill back to the General Assembly for revision or override.