Former state school employee Lackey paid in $136K to teachers' pension fund, could collect $3.56M in retirement

By Rock Island Today Reports

Jun 1, 2016

Former state school employee Karen Lackey, who retired in May 2016, saved $136,379 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lackey would collect as much as $3.56 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Lackey received $74,850 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lackey will have already received $151,946 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 School District 40

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