Dupage Policy Journal

Dupage Policy Journal

Tuesday, December 10, 2019

Former state school employee Campbell paid in $113K to teachers' pension fund, could collect $1.47M in retirement

Schools

By Local Labs News Service | May 1, 2016

Shutterstock 369740408

Former state school employee Janet Campbell, who retired in April 2016, saved $112,629 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Campbell would collect as much as $1.47 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Campbell received $30,800 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Campbell will have already received $128,856 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Illinois State Board of Education ?

Sign-up Next time we write about Illinois State Board of Education, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Illinois State Board of Education

More News