Former state school employee Simmons paid in $66K to teachers' pension fund, could collect $729K in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Renee Simmons, who retired in May 2016, saved $66,121 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Simmons would collect as much as $729,348, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Simmons received $15,330 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Simmons will have already received $81,391 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Scales Mound Community Unit School District 211

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