Former state school employee Griffith paid in $12K to teachers' pension fund, could collect $408K in retirement

By Local Labs News Service

Mar 1, 2018

Former state school employee Carol Griffith, who retired in February 2018, saved $11,780 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Griffith would collect as much as $407,677, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Griffith received $8,569 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Griffith will have already received $17,395 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Batavia Unit School District 101 Board

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