Former state school employee Leib paid in $184K to teachers' pension fund, could collect $3.95M in retirement

By Rock Island Today Reports

Jul 1, 2016

Former state school employee Charles Leib, who retired in June 2016, saved $183,711 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Leib would collect as much as $3.95 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Leib received $83,062 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Leib will have already received $256,737 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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East Moline School District 37 Board

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