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DeKalb Times

Sunday, November 17, 2024

Former state school employee White paid in $127K to teachers' pension fund, could collect $2.19M in retirement

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Former state school employee Sharon White, who retired in June 2018, saved $127,252 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, White would collect as much as $2.19 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes White received $46,015 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, White will have already received $142,227 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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