Former state school employee Mitchell paid in $181K to teachers' pension fund, could collect $4.13M in retirement

By Local Labs News Service

Aug 1, 2017

Former state school employee Jeffrey Mitchell, who retired in July 2017, saved $180,966 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mitchell would collect as much as $4.13 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Mitchell received $86,835 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mitchell will have already received $268,398 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Wayne City Community Unit School District 100

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