Former state school employee Arnold paid in $47K to teachers' pension fund, could collect $708K in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Darlene Arnold, who retired in June 2016, saved $46,997 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Arnold would collect as much as $707,579, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Arnold received $14,872 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Arnold will have already received $62,219 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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