Former state school employee Depriest paid in $125K to teachers' pension fund, could collect $2.83M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Charles Depriest, who retired in May 2017, saved $124,641 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Depriest would collect as much as $2.83 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Depriest received $59,514 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Depriest will have already received $183,951 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Gallatin Community Unit School District 7

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