Former state school employee Sheldon paid in $30K to teachers' pension fund, could collect $375K in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Dorothy Sheldon, who retired in May 2016, saved $30,376 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sheldon would collect as much as $375,096, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Sheldon received $7,884 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Sheldon will have already received $32,986 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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River Bend Community Unit District 2

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