Former state school employee Simko paid in $127K to teachers' pension fund, could collect $3.11M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Diann Simko, who retired in June 2018, saved $126,788 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, Simko would collect as much as $3.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Simko received $65,360 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Simko will have already received $132,681 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Streator Elementary School District 44 Board

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