Former state school employee Kern Honea paid in $29K to teachers' pension fund, could collect $1.26M in retirement

By East Central Reporter Reports

Feb 1, 2016

Former state school employee Tonya Kern Honea, who retired in January 2016, saved $28,960 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kern Honea would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Kern Honea received $26,530 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kern Honea will have already received $53,856 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Shelbyville Community Unit School District 4

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