Former state school employee Mathers paid in $240K to teachers' pension fund, could collect $6.03M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee Craig Mathers, who retired in July 2016, saved $240,273 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mathers would collect as much as $6.03 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Mathers received $126,826 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Mathers will have already received $257,457 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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West Carroll Community Unit School District 314 Board

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