Former state school employee Williams paid in $78K to teachers' pension fund, could collect $1.19M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Bill Williams, who retired in May 2017, saved $78,331 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Williams would collect as much as $1.19 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Williams received $25,085 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Williams will have already received $104,947 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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