Former state school employee Ford paid in $130K to teachers' pension fund, could collect $3.3M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Peg Ford, who retired in June 2017, saved $130,408 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ford would collect as much as $3.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Ford received $69,274 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ford will have already received $140,626 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Deerfield School District 109

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