Former state school employee Stone paid in $96K to teachers' pension fund, could collect $2.6M in retirement

By East Central Reporter Reports

Jun 1, 2018

Former state school employee Phyllis Stone, who retired in May 2018, saved $95,584 toward a pension over 42 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Stone would collect as much as $2.6 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Stone received $54,624 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Stone will have already received $110,887 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Shiloh Community Unit School District 1

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