Former state school employee Jackson paid in $101K to teachers' pension fund, could collect $2.44M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Jan Jackson, who retired in June 2017, saved $101,021 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jackson would collect as much as $2.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Jackson received $51,218 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Jackson will have already received $103,973 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Champaign Community Unit School District 4

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