Former state school employee Boothe paid in $197K to teachers' pension fund, could collect $3.98M in retirement

By Rock Island Today Reports

Jun 1, 2016

Former state school employee Frank Boothe, who retired in May 2016, saved $197,421 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Boothe would collect as much as $3.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Boothe received $83,719 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Boothe will have already received $258,768 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Moline-Coal Valley School District 40

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