Former state school employee Rose paid in $108K to teachers' pension fund, could collect $2.05M in retirement

By East Central Reporter Reports

Jun 1, 2016

Former state school employee Joseph Rose, who retired in May 2016, saved $108,187 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, Rose would collect as much as $2.05 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Rose received $43,109 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rose will have already received $133,245 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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