Former state school employee Pierce paid in $6K to teachers' pension fund, could collect $123K in retirement

By Local Labs News Service

Feb 1, 2017

Former state school employee Carol Pierce, who retired in January 2017, saved $5,718 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pierce would collect as much as $122,898, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Pierce received $2,583 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pierce will have already received $7,983 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Dixon Unit School District 170

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