Former state school employee Frakes paid in $121K to teachers' pension fund, could collect $2.12M in retirement

By Rock Island Today Reports

Jun 1, 2017

Former state school employee Lori Frakes, who retired in May 2017, saved $121,144 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, Frakes would collect as much as $2.12 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Frakes received $44,628 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Frakes will have already received $137,941 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rockridge Community Unit School District 300 Board

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