Prairie State Wire

Prairie State Wire

Monday, November 11, 2019

Former state school employee Folger paid in $154K to teachers' pension fund, could collect $2.79M in retirement

Schools

By Local Labs News Service | Jan 1, 2018

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Former state school employee Tim Folger, who retired in December 2017, saved $154,324 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Folger would collect as much as $2.79 million, according to a projection by Local Government Information Services (LGIS), which publishes Prairie State Wire.

The projection assumes Folger received $58,661 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Folger will have already received $181,316 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Illinois State Board of Education

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