Former state school employee Parsons paid in $132K to teachers' pension fund, could collect $3.01M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Candis Parsons, who retired in May 2018, saved $132,077 toward a pension over 40 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Parsons would collect as much as $3.01 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Parsons received $63,350 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Parsons will have already received $195,810 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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