Former state school employee Jacobs paid in $121K to teachers' pension fund, could collect $2.11M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Karen Jacobs, who retired in May 2018, saved $121,025 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jacobs would collect as much as $2.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Jacobs received $44,409 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jacobs will have already received $137,263 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Earlville Community Unit School District 9

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