SE Illinois News

SE Illinois News

Monday, April 6, 2020

Former state school employee Campbell paid in $113K to teachers' pension fund, could collect $1.47M in retirement


By Local Labs News Service | May 1, 2016

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Former state school employee Janet Campbell, who retired in April 2016, saved $112,629 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Campbell would collect as much as $1.47 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Campbell received $30,800 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Campbell will have already received $128,856 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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