Former state school employee Cannon paid in $42K to teachers' pension fund, could collect $766K in retirement

By Local Labs News Service

Nov 1, 2017

Former state school employee Doreen Cannon, who retired in October 2017, saved $41,694 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cannon would collect as much as $765,886, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Cannon received $16,098 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cannon will have already received $49,757 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rochelle Community Consolidated District 231 Board

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