Former state school employee Livengood paid in $45K to teachers' pension fund, could collect $694K in retirement

By Local Labs News Service

Jan 1, 2017

Former state school employee Jean Livengood, who retired in December 2016, saved $44,600 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Livengood would collect as much as $693,980, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Livengood received $14,586 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Livengood will have already received $45,085 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Chadwick-Milledgeville Community Unit School District 399

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