Former state school employee Althoff paid in $31K to teachers' pension fund, could collect $412K in retirement

By East Central Reporter Reports

Jul 1, 2016

Former state school employee Marian Althoff, who retired in June 2016, saved $31,120 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Althoff would collect as much as $412,102, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Althoff received $8,662 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Althoff will have already received $36,240 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Altamont Community Unit School District 10 Board

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