Former state school employee Wright paid in $29K to teachers' pension fund, could collect $1.18M in retirement

By East Central Reporter Reports

Dec 1, 2016

Former state school employee Jean Wright, who retired in November 2016, saved $28,808 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wright would collect as much as $1.18 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Wright received $24,697 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wright will have already received $50,135 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Paris Community Unit School District 4 Board

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