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Thursday, January 23, 2020

Former state school employee Livengood paid in $136K to teachers' pension fund, could collect $3.07M in retirement

Schools

By Local Labs News Service | Jan 1, 2017

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Former state school employee Toni Livengood, who retired in December 2016, saved $135,897 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Livengood would collect as much as $3.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Livengood received $64,592 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Livengood will have already received $199,648 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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