Former state school employee Contreras paid in $50K to teachers' pension fund, could collect $868K in retirement

By Local Labs News Service

May 1, 2018

Former state school employee Kari Contreras, who retired in April 2018, saved $49,746 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, Contreras would collect as much as $867,986, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Contreras received $18,244 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Contreras will have already received $56,390 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Leland Community Unit School District 1

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