Former state school employee Parker paid in $746 to teachers' pension fund, could collect $33K in retirement

By Local Labs News Service

Mar 1, 2016

Former state school employee Kathy Parker, who retired in February 2016, saved $746 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Parker would collect as much as $33,295, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Parker received $699 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Parker will have already received $1,419 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Alxndr/John/Masc/Pulski/Unon Regional Office Of Education

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