Former state school employee Fox paid in $62K to teachers' pension fund, could collect $1.66M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Susan Fox, who retired in June 2017, saved $62,458 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, Fox would collect as much as $1.66 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Fox received $34,818 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Fox will have already received $70,681 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Summit Hill school District 161

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