Former state school employee Thomas paid in $144K to teachers' pension fund, could collect $2.99M in retirement

By East Central Reporter Reports

Jun 1, 2018

Former state school employee Christy Thomas, who retired in May 2018, saved $143,522 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Thomas would collect as much as $2.99 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Thomas received $62,942 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Thomas will have already received $194,547 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Casey-Westfield Community Unit School District #C-4

!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