Former state school employee Parkinson paid in $4K to teachers' pension fund, could collect $68K in retirement

By Local Labs News Service

Sep 1, 2018

Former state school employee Nancy Parkinson, who retired in August 2018, saved $3,647 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Parkinson would collect as much as $68,462, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Parkinson received $1,439 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Parkinson will have already received $4,447 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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