Former state school employee Morgan paid in $73K to teachers' pension fund, could collect $1.11M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Kathryn Morgan, who retired in May 2017, saved $72,505 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Morgan would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Morgan received $23,338 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Morgan will have already received $97,637 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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