Former state school employee Temple paid in $160K to teachers' pension fund, could collect $3.08M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Rick Temple, who retired in May 2018, saved $159,832 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Temple would collect as much as $3.08 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Temple received $64,696 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Temple will have already received $199,969 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Erie Community Unit School District 1

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