Former state school employee Johnson paid in $45K to teachers' pension fund, could collect $669K in retirement

By Rock Island Today Reports

Jun 1, 2017

Former state school employee Mary Johnson, who retired in May 2017, saved $45,371 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Johnson would collect as much as $668,838, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Johnson received $14,058 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Johnson will have already received $58,813 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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