Former state school employee Harrison paid in $60K to teachers' pension fund, could collect $1.41M in retirement

By Local Labs News Service

Dec 1, 2016

Former state school employee Susan Harrison, who retired in November 2016, saved $59,660 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Harrison would collect as much as $1.41 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Harrison received $29,613 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Harrison will have already received $60,114 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Chaney Monge School District 88

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