Former state school employee Thomas paid in $67K to teachers' pension fund, could collect $1.08M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Judy Thomas, who retired in May 2016, saved $67,432 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Thomas would collect as much as $1.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Thomas received $22,677 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Thomas will have already received $70,092 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Cobden Unit District 17

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