Former state school employee Russell paid in $175K to teachers' pension fund, could collect $5.03M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Constance Russell, who retired in June 2018, saved $174,814 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Russell would collect as much as $5.03 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Russell received $105,754 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Russell will have already received $214,681 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Joliet Public School District 86

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