Former state school employee Emerson paid in $4K to teachers' pension fund, could collect $410K in retirement

By Rock Island Today Reports

Mar 1, 2017

Former state school employee Eileen Emerson, who retired in February 2017, saved $4,476 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Emerson would collect as much as $410,292, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Emerson received $8,624 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Emerson will have already received $8,624 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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