Former state school employee Layman paid in $45K to teachers' pension fund, could collect $671K in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Barbara Layman, who retired in June 2017, saved $44,695 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Layman would collect as much as $670,727, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Layman received $14,098 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Layman will have already received $58,982 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Dongola Unit District 66

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