Former state school employee Gerard paid in $180K to teachers' pension fund, could collect $4.17M in retirement

By Rock Island Today Reports

Jun 1, 2016

Former state school employee Linda Gerard, who retired in May 2016, saved $180,425 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gerard would collect as much as $4.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Gerard received $87,575 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gerard will have already received $270,685 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 Community Unit School District 40

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