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Chambana Sun

Monday, May 20, 2024

Former state school employee Graham paid in $82K to teachers' pension fund, could collect $1.49M in retirement

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Former state school employee Garris Graham, who retired in May 2017, saved $81,572 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Graham would collect as much as $1.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Graham received $31,306 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Graham will have already received $96,763 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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