Former state school employee Grimes paid in $9K to teachers' pension fund, could collect $173K in retirement

By Rock Island Today Reports

Jul 1, 2017

Former state school employee Rebecca Grimes, who retired in June 2017, saved $8,781 toward a pension over 3 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Grimes would collect as much as $172,504, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Grimes received $3,625 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Grimes will have already received $11,205 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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