Former state school employee Harvey paid in $160K to teachers' pension fund, could collect $3.74M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Tammy Harvey, who retired in June 2018, saved $160,441 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Harvey would collect as much as $3.74 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Harvey received $78,566 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Harvey will have already received $242,840 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Ashton-Franklin Center CUSD #275

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