Former state school employee Knight paid in $86K to teachers' pension fund, could collect $1.17M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Dianne Knight, who retired in May 2018, saved $85,679 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Knight would collect as much as $1.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Knight received $24,657 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Knight will have already received $103,157 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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