Former state school employee Holcomb paid in $19K to teachers' pension fund, could collect $839K in retirement

By Local Labs News Service

Jan 1, 2017

Former state school employee John Holcomb, who retired in December 2016, saved $18,596 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Holcomb would collect as much as $838,745, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Holcomb received $17,629 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Holcomb will have already received $35,787 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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