Former state school employee Johnson paid in $83K to teachers' pension fund, could collect $1.49M in retirement

By Local Labs News Service

Mar 1, 2016

Former state school employee Carol Johnson, who retired in February 2016, saved $83,185 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Johnson would collect as much as $1.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Johnson received $31,283 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Johnson will have already received $96,692 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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East St. Louis School District 189 Board

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