Former state school employee Thomas paid in $71K to teachers' pension fund, could collect $1.13M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Susan Thomas, who retired in May 2016, saved $70,984 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Thomas would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Thomas received $23,771 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Thomas will have already received $73,474 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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