Former state school employee Black paid in $144K to teachers' pension fund, could collect $3.07M in retirement

By Rock Island Today Reports

Jul 1, 2017

Former state school employee Julia Black, who retired in June 2017, saved $143,944 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Black would collect as much as $3.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Black received $64,572 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Black will have already received $199,585 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rock Island-Milan School District 41 Board

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