Former state school employee Swithin paid in $9K to teachers' pension fund, could collect $391K in retirement

By Local Labs News Service

Mar 1, 2018

Former state school employee Susan Swithin, who retired in February 2018, saved $9,105 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Swithin would collect as much as $390,715, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Swithin received $8,212 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Swithin will have already received $16,670 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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East Aurora School District 131

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