Former state school employee Pickett paid in $140K to teachers' pension fund, could collect $3.25M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee Rose Pickett, who retired in July 2016, saved $140,487 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pickett would collect as much as $3.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Pickett received $68,399 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pickett will have already received $211,415 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Cairo Unified School District 1 Board

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