Former state school employee Holland paid in $104K to teachers' pension fund, could collect $1.88M in retirement

By Local Labs News Service

Aug 1, 2018

Former state school employee Kevin Holland, who retired in July 2018, saved $104,036 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, Holland would collect as much as $1.88 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Holland received $39,517 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Holland will have already received $122,144 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Scales Mound Community Unit School District 211

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