Former state school employee James paid in $14K to teachers' pension fund, could collect $236K in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Jennifer James, who retired in May 2016, saved $14,449 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, James would collect as much as $235,578, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes James received $4,951 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, James will have already received $15,304 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Woodland Community Consolidated School District 50

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