Former state school employee Ritchie paid in $181K to teachers' pension fund, could collect $3.05M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Kathleen Ritchie, who retired in May 2017, saved $181,440 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ritchie would collect as much as $3.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Ritchie received $64,149 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ritchie will have already received $198,277 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Collinsville Community Unit School District 10 Board

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