Former state school employee Book paid in $101K to teachers' pension fund, could collect $2.06M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Katherine Book, who retired in May 2017, saved $101,446 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Book would collect as much as $2.06 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Book received $43,239 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Book will have already received $133,647 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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New Hope Community Consolidated School District 6

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