Former state school employee Chiott paid in $42K to teachers' pension fund, could collect $1.03M in retirement

By Local Labs News Service

May 1, 2016

Former state school employee Cheryl Chiott, who retired in April 2016, saved $41,750 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Chiott would collect as much as $1.03 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Chiott received $21,549 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Chiott will have already received $43,744 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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East Dubuque Community Unit School District 119

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