Former state school employee Fife paid in $113K to teachers' pension fund, could collect $2.05M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Connie Fife, who retired in June 2016, saved $113,243 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fife would collect as much as $2.05 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Fife received $42,990 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fife will have already received $132,878 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Wabash & Ohio Valley Spec Educ

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