Former state school employee Knox paid in $150K to teachers' pension fund, could collect $3.02M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Kathleen Knox, who retired in June 2018, saved $150,303 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Knox 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 Knox received $63,375 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Knox will have already received $195,885 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Belleville School District 118

!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