Former state school employee Fairchild paid in $28K to teachers' pension fund, could collect $657K in retirement

By Local Labs News Service

Apr 1, 2016

Former state school employee Greg Fairchild, who retired in March 2016, saved $27,886 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fairchild would collect as much as $656,991, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Fairchild received $13,809 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Fairchild will have already received $28,032 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Cahokia Community Unit School District 187

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