Former state school employee Coad paid in $247K to teachers' pension fund, could collect $5.4M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Daniel Coad, who retired in June 2016, saved $247,129 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, Coad would collect as much as $5.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Coad received $113,436 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Coad will have already received $350,619 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lake Forest Community High School District 115

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