Former state school employee Holt Mollet paid in $146K to teachers' pension fund, could collect $3.04M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Jacqueline Holt Mollet, who retired in May 2018, saved $145,525 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, Holt Mollet would collect as much as $3.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Holt Mollet received $63,918 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Holt Mollet will have already received $197,565 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Highland Community Unit School District 5

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate