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Kane County Reporter

Monday, November 25, 2024

Former state school employee Adkins paid in $204K to teachers' pension fund, could collect $3.76M in retirement

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Former state school employee Mary Adkins, who retired in May 2016, saved $204,172 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Adkins would collect as much as $3.76 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Adkins received $79,084 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Adkins will have already received $244,442 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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