Dupage Policy Journal

Dupage Policy Journal

Tuesday, March 31, 2020

Former state school employee Bell paid in $36K to teachers' pension fund, could collect $659K in retirement


By Local Labs News Service | Nov 1, 2016

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Former state school employee John Bell, who retired in October 2016, saved $35,668 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bell would collect as much as $659,229, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Bell received $13,856 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bell will have already received $42,828 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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