Former state school employee Williams paid in $192K to teachers' pension fund, could collect $4.4M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Danny Williams, who retired in May 2017, saved $192,060 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Williams would collect as much as $4.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Williams received $92,439 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Williams will have already received $285,719 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Minooka Community High School District 111 Board

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