Former state school employee Crain paid in $118K to teachers' pension fund, could collect $2.65M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Cathy Crain, who retired in May 2017, saved $117,944 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Crain would collect as much as $2.65 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Crain received $55,739 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Crain will have already received $172,283 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Hamilton County Community Unit School District 10

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