Former state school employee Bell paid in $19K to teachers' pension fund, could collect $1.05M in retirement

By Local Labs News Service

Sep 1, 2016

Former state school employee Randy Bell, who retired in August 2016, saved $19,029 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bell would collect as much as $1.05 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Bell received $22,004 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Bell will have already received $22,004 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Montmorency Community Consolidated School District 145

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