Former state school employee Sams paid in $168K to teachers' pension fund, could collect $4.11M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee Renee Sams, who retired in July 2016, saved $168,449 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, Sams would collect as much as $4.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Sams received $86,396 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sams will have already received $175,384 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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