Former state school employee Prevallet paid in $131K to teachers' pension fund, could collect $3.2M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee James Prevallet, who retired in June 2016, saved $131,105 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Prevallet would collect as much as $3.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Prevallet received $67,265 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Prevallet will have already received $136,548 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Massac Unit School District 1 Board

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