Former state school employee Spivey paid in $105K to teachers' pension fund, could collect $2.39M in retirement

By Rock Island Today Reports

Jun 1, 2016

Former state school employee Sandra Spivey, who retired in May 2016, saved $105,266 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Spivey would collect as much as $2.39 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Spivey received $50,151 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Spivey will have already received $155,013 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Alwood Community Unit School District 225

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