Former state school employee Edwards paid in $51K to teachers' pension fund, could collect $740K in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Barbara Edwards, who retired in June 2018, saved $51,294 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Edwards would collect as much as $740,372, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Edwards received $15,562 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Edwards will have already received $65,106 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Waukegan Community Unit School District 60

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