Former state school employee Pifkin paid in $19K to teachers' pension fund, could collect $312K in retirement

By Local Labs News Service

Sep 1, 2017

Former state school employee Carolyn Pifkin, who retired in August 2017, saved $18,915 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pifkin would collect as much as $312,285, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Pifkin received $6,564 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pifkin will have already received $20,289 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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