Former state school employee Caldwell paid in $32K to teachers' pension fund, could collect $1.02M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Ann Caldwell, who retired in June 2016, saved $31,894 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Caldwell would collect as much as $1.02 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Caldwell received $21,497 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Caldwell will have already received $43,639 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Bloomington School District 87 Board

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