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Illinois Valley Times

Wednesday, December 25, 2024

Former state school employee Parisot paid in $159K to teachers' pension fund, could collect $3.67M in retirement

Money 07

Former state school employee Debora Parisot, who retired in May 2017, saved $158,585 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Parisot would collect as much as $3.67 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Parisot received $77,169 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Parisot will have already received $238,522 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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