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Thursday, January 23, 2020

Former state school employee Griffin paid in $85K to teachers' pension fund, could collect $1.17M in retirement

Schools

By Local Labs News Service | Apr 1, 2017

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Former state school employee Kelly Griffin, who retired in March 2017, saved $84,886 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Griffin would collect as much as $1.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Prairie State Wire.

The projection assumes Griffin received $24,542 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Griffin will have already received $102,673 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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