Rock Island Today

Rock Island Today

Friday, October 18, 2019

Former state school employee Randolph paid in $157K to teachers' pension fund, could collect $3.4M in retirement

Schools

By Rock Island Today Reports | Jul 1, 2018


Former state school employee Susan Randolph, who retired in June 2018, saved $157,055 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, Randolph would collect as much as $3.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Randolph received $71,459 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Randolph will have already received $220,873 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

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