Former state school employee Owen paid in $124K to teachers' pension fund, could collect $2.52M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Kathy Owen, who retired in May 2016, saved $123,647 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Owen would collect as much as $2.52 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Owen received $52,953 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Owen will have already received $163,673 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Meridian Community Unit School District 223

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