Former state school employee Watson paid in $123K to teachers' pension fund, could collect $2.12M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Paula Watson, who retired in May 2018, saved $123,136 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Watson would collect as much as $2.12 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Watson received $44,607 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Watson will have already received $137,875 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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West Carroll Community Unit School District 314 Board

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