A system for measuring soft starter current includes a current monitoring system including a controller and a current transfer device that includes a first thyristor and a first conductor coupled to the first thyristor and configured to convey a first current flowing through the first thyristor, wherein the first current includes current flowing through the first thyristor when the first thyristor is in an off state. The system also includes a first current sensor configured to sense the first current and a first current measurement circuit coupled to the first current sensor and coupleable to the controller and configured to output a first output value to the controller representative of the first current flowing through the first thyristor. The controller is configured to determine an impending inoperability of the first thyristor based on the first current and alert a user if the first current indicates the impending inoperability.