Former state school employee Jacobs paid in $169K to teachers' pension fund, could collect $3.94M in retirement

By Rock Island Today Reports

Jul 1, 2017

Former state school employee Marcia Jacobs, who retired in June 2017, saved $168,990 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jacobs would collect as much as $3.94 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Jacobs received $82,715 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jacobs will have already received $255,663 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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