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Sangamon Sun

Tuesday, November 5, 2024

Former state school employee Plater Sharp paid in $68K to teachers' pension fund, could collect $2.02M in retirement

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Former state school employee Darci Plater Sharp, who retired in November 2017, saved $68,108 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Plater Sharp would collect as much as $2.02 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Plater Sharp received $42,487 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Plater Sharp will have already received $86,249 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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