Former state school employee Parker paid in $104K to teachers' pension fund, could collect $1.68M in retirement

By East Central Reporter Reports

Jul 1, 2017

Former state school employee Peggy Parker, who retired in June 2017, saved $104,080 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Parker would collect as much as $1.68 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Parker received $35,277 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Parker will have already received $109,037 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Eastern Il Area Spec Educ Coop

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