Former state school employee Leblanc Parks paid in $162K to teachers' pension fund, could collect $3.13M in retirement

By Local Labs News Service

Feb 1, 2018

Former state school employee Linda Leblanc Parks, who retired in January 2018, saved $162,096 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Leblanc Parks would collect as much as $3.13 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Leblanc Parks received $65,777 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Leblanc Parks will have already received $203,310 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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