Former state school employee King paid in $76K to teachers' pension fund, could collect $1.64M in retirement

By Local Labs News Service

Nov 1, 2018

Former state school employee Debra King, who retired in October 2018, saved $75,509 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, King would collect as much as $1.64 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes King received $34,374 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, King will have already received $106,246 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Henry Senachwine Community Unit School District 5

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