Former state school employee Graves paid in $45K to teachers' pension fund, could collect $1.06M in retirement

By East Central Reporter Reports

Feb 1, 2016

Former state school employee Karen Graves, who retired in January 2016, saved $44,741 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Graves would collect as much as $1.06 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Graves received $22,248 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Graves will have already received $45,163 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Paris Community Unit School District 4 Board

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