Will County Gazette

Will County Gazette

Tuesday, October 15, 2019

Former state school employee Coffey paid in $39K to teachers' pension fund, could collect $607K in retirement

Schools

By Local Labs News Service | Jul 1, 2016


Former state school employee Christine Coffey, who retired in June 2016, saved $39,393 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Coffey would collect as much as $606,757, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Coffey received $12,753 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Coffey will have already received $39,419 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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