Former state school employee Salmond paid in $120K to teachers' pension fund, could collect $2.8M in retirement

By East Central Reporter Reports

Jun 1, 2016

Former state school employee Priscilla Salmond, who retired in May 2016, saved $119,990 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Salmond would collect as much as $2.8 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Salmond received $58,769 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Salmond will have already received $181,649 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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