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Chambana Sun

Saturday, November 23, 2024

Former state school employee Campion paid in $173K to teachers' pension fund, could collect $2.43M in retirement

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Former state school employee Jeanne Campion, who retired in May 2016, saved $172,820 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Campion would collect as much as $2.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Campion received $51,108 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Campion will have already received $213,816 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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