Will County Gazette

Will County Gazette

Wednesday, January 22, 2020

Former state school employee Fisher paid in $74K to teachers' pension fund, could collect $1.04M in retirement

Schools

By Local Labs News Service | Sep 1, 2018

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Former state school employee Marlene Fisher, who retired in August 2018, saved $73,837 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fisher would collect as much as $1.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Fisher received $21,853 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Fisher will have already received $91,426 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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