Former state school employee James paid in $177K to teachers' pension fund, could collect $3.16M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Jeanine James, who retired in June 2018, saved $177,022 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, James would collect as much as $3.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes James received $66,445 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, James will have already received $205,374 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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St. Charles Community Unit School District 303

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