Former state school employee Jacobs paid in $1K to teachers' pension fund, could collect $68K in retirement

By Local Labs News Service

Oct 1, 2017

Former state school employee Debra Jacobs, who retired in September 2017, saved $1,195 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jacobs would collect as much as $67,766, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Jacobs received $1,424 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Jacobs will have already received $1,424 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Sterling Community Unit District 5 Board

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