Former state school employee Pearison paid in $151K to teachers' pension fund, could collect $3.17M in retirement

By East Central Reporter Reports

Jul 1, 2016

Former state school employee Timothy Pearison, who retired in June 2016, saved $150,914 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, Pearison would collect as much as $3.17 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Pearison received $66,705 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pearison will have already received $206,178 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Marshall Community Unit School District C-2

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate