Former state school employee Douglass paid in $64K to teachers' pension fund, could collect $1.18M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Holly Douglass, who retired in May 2016, saved $64,276 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Douglass would collect as much as $1.18 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Douglass received $24,836 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Douglass will have already received $76,765 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Polo Community Unit School District 222

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