Former state school employee Townsend paid in $74K to teachers' pension fund, could collect $1.07M in retirement

By East Central Reporter Reports

Jul 1, 2016

Former state school employee Demetra Townsend, who retired in June 2016, saved $73,658 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Townsend would collect as much as $1.07 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Townsend received $22,421 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Townsend will have already received $93,803 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Dieterich Community Unit School District 30 Board

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