Former state school employee Holsapple paid in $76K to teachers' pension fund, could collect $1.4M in retirement

By East Central Reporter Reports

Jul 1, 2016

Former state school employee Jennie Holsapple, who retired in June 2016, saved $76,368 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Holsapple would collect as much as $1.4 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Holsapple received $29,474 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Holsapple will have already received $91,101 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Cumberland Community Unit School District 77 Board

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