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DeKalb Times

Friday, April 19, 2024

Former state school employee Thompson paid in $110K to teachers' pension fund, could collect $1.68M in retirement

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Former state school employee Connie Thompson, who retired in May 2016, saved $109,954 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Thompson would collect as much as $1.68 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Thompson received $35,298 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Thompson will have already received $147,674 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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