Former state school employee Wells paid in $66K to teachers' pension fund, could collect $1.14M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Donna Wells, who retired in May 2017, saved $66,256 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wells would collect as much as $1.14 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Wells received $23,941 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wells will have already received $73,999 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Oregon Community Unit School District 220

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