Former state school employee Matherly paid in $82K to teachers' pension fund, could collect $1.46M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Kathryn Matherly, who retired in May 2017, saved $81,910 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Matherly would collect as much as $1.46 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Matherly received $30,593 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Matherly will have already received $94,560 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rock Falls Elementary School District 13 Board

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