Former state school employee Clayton paid in $87K to teachers' pension fund, could collect $1.7M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Jeanne Clayton, who retired in May 2017, saved $87,113 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Clayton would collect as much as $1.7 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Clayton received $35,688 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Clayton will have already received $110,309 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Pope County Community Unit School District 1

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