Rock Island Today

Rock Island Today

Friday, December 6, 2019

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

Schools

By Rock Island Today Reports | Jul 1, 2017

Shutterstock 385535740

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.

Want to get notified whenever we write about Illinois State Board of Education ?

Sign-up Next time we write about Illinois State Board of Education, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Illinois State Board of Education

More News