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Former state school employee Willhoit paid in $60K to teachers' pension fund, could collect $873K in retirement


By Rock Island Today Reports | Jul 1, 2017

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Former state school employee Lisa Willhoit, who retired in June 2017, saved $60,238 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Willhoit would collect as much as $872,582, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Willhoit received $18,341 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Willhoit will have already received $76,732 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Illinois State Board of Education

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