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Former state school employee Liston paid in $66K to teachers' pension fund, could collect $1.19M in retirement

Schools

By Local Labs News Service | May 1, 2016

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Former state school employee Steven Liston, who retired in April 2016, saved $66,440 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Liston would collect as much as $1.19 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Liston received $24,911 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Liston will have already received $76,997 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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