Former state school employee Wilson paid in $40K to teachers' pension fund, could collect $626K in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Brenda Wilson, who retired in June 2016, saved $40,229 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wilson would collect as much as $626,362, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Wilson received $13,165 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wilson will have already received $40,692 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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