Former state school employee Arnold paid in $10K to teachers' pension fund, could collect $153K in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Janet Arnold, who retired in May 2016, saved $9,641 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Arnold would collect as much as $153,287, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Arnold received $3,222 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Arnold will have already received $9,960 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Sterling Community Unit District 5 Board

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