Former state school employee Helmers paid in $245K to teachers' pension fund, could collect $5.74M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Cindy Helmers, who retired in June 2018, saved $244,584 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Helmers would collect as much as $5.74 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Helmers received $120,655 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Helmers will have already received $244,930 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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