Former state school employee Elliott paid in $139K to teachers' pension fund, could collect $3.02M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Joann Elliott, who retired in May 2018, saved $139,076 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, Elliott would collect as much as $3.02 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Elliott received $63,503 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Elliott will have already received $196,281 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Highland Community Unit School District 5

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