Former state school employee Perrine paid in $61K to teachers' pension fund, could collect $1.13M in retirement

By Rock Island Today Reports

Sep 1, 2016

Former state school employee Kathleen Perrine, who retired in August 2016, saved $61,428 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Perrine would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Perrine received $23,854 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Perrine will have already received $73,731 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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