Dupage Policy Journal

Dupage Policy Journal

Sunday, December 15, 2019

Former state school employee Sharp paid in $191K to teachers' pension fund, could collect $4.23M in retirement


By Local Labs News Service | Jul 1, 2016

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Former state school employee Deborah Sharp, who retired in June 2016, saved $190,965 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sharp would collect as much as $4.23 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Sharp received $88,825 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sharp will have already received $274,550 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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