Former state school employee Sparks paid in $102K to teachers' pension fund, could collect $1.97M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Bernice Sparks, who retired in May 2016, saved $102,144 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sparks would collect as much as $1.97 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Sparks received $41,478 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sparks will have already received $128,204 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Fisher Community Unit School District 1

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