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Chambana Sun

Sunday, November 24, 2024

Former state school employee Campbell paid in $33K to teachers' pension fund, could collect $440K in retirement

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Former state school employee Judith Campbell, who retired in June 2017, saved $32,884 toward a pension over 10 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 $440,082, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Campbell received $9,250 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Campbell will have already received $38,700 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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