Former state school employee Ties paid in $130K to teachers' pension fund, could collect $2.96M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Julie Ties, who retired in May 2016, saved $130,465 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ties would collect as much as $2.96 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Ties received $62,164 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ties will have already received $192,143 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Galena Unit School District 120

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