Former state school employee Rogers paid in $130K to teachers' pension fund, could collect $2.08M in retirement

By Local Labs News Service

Mar 1, 2016

Former state school employee David Rogers, who retired in February 2016, saved $129,961 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rogers would collect as much as $2.08 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Rogers received $43,696 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rogers will have already received $135,060 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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