Former state school employee Shelton paid in $140K to teachers' pension fund, could collect $2.32M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee William Shelton, who retired in June 2016, saved $139,747 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Shelton would collect as much as $2.32 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Shelton received $48,663 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Shelton will have already received $150,413 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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