Former state school employee Anderson paid in $96K to teachers' pension fund, could collect $2.3M in retirement

By East Central Reporter Reports

Feb 1, 2016

Former state school employee Ruth Anderson, who retired in January 2016, saved $95,915 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, Anderson would collect as much as $2.3 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Anderson received $48,288 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Anderson will have already received $98,025 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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