Former state school employee Scott paid in $85K to teachers' pension fund, could collect $1.41M in retirement

By Rock Island Today Reports

Jun 1, 2016

Former state school employee Kathleen Scott, who retired in May 2016, saved $84,545 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Scott would collect as much as $1.41 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Scott received $29,558 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Scott will have already received $91,361 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Mercer County School District 404 Board

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