Former state school employee Neal paid in $102K to teachers' pension fund, could collect $2.19M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Kathryn Neal, who retired in June 2016, saved $102,417 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Neal would collect as much as $2.19 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Neal received $46,050 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Neal will have already received $142,337 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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