Former state school employee Rickels paid in $200K to teachers' pension fund, could collect $2.44M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Rechelle Rickels, who retired in May 2016, saved $199,882 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rickels would collect as much as $2.44 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Rickels received $51,309 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Rickels will have already received $214,656 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Morrison Community Unit School District 6

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