Prairie State Wire

Prairie State Wire

Monday, November 11, 2019

Former state school employee Sims paid in $95K to teachers' pension fund, could collect $1.65M in retirement

Schools

By Local Labs News Service | Jan 1, 2018

Money836

Former state school employee Barbara Sims, who retired in December 2017, saved $94,510 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, Sims would collect as much as $1.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Prairie State Wire.

The projection assumes Sims received $34,607 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sims will have already received $106,966 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Illinois State Board of Education ?

Sign-up Next time we write about Illinois State Board of Education, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Illinois State Board of Education

More News