Former state school employee Collias paid in $106K to teachers' pension fund, could collect $3.26M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Lucinda Collias, who retired in June 2016, saved $105,755 toward a pension over 44 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Collias would collect as much as $3.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Collias received $68,517 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Collias will have already received $139,090 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Norridge School District 80 Board

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