Former state school employee Kingston paid in $105K to teachers' pension fund, could collect $1.85M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Sherry Kingston, who retired in May 2017, saved $104,723 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kingston would collect as much as $1.85 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Kingston received $38,929 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kingston will have already received $120,326 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Norris City-Omaha-Enfield High School

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