Former state school employee Love paid in $160K to teachers' pension fund, could collect $2.55M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Mary Love, who retired in June 2017, saved $160,172 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Love would collect as much as $2.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Love received $53,703 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Love will have already received $165,990 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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