Former state school employee Rea paid in $12K to teachers' pension fund, could collect $725K in retirement

By Local Labs News Service

Oct 1, 2017

Former state school employee Margaret Rea, who retired in September 2017, saved $11,903 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rea would collect as much as $724,775, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Rea received $15,234 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Rea will have already received $15,234 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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