Former state school employee Jackson paid in $90K to teachers' pension fund, could collect $1.59M in retirement

By Rock Island Today Reports

Jun 1, 2016

Former state school employee Barry Jackson, who retired in May 2016, saved $90,310 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jackson would collect as much as $1.59 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Jackson received $33,325 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jackson will have already received $103,005 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Sherrard Community Unit School District 200 Board

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