Former state school employee Larkin paid in $43K to teachers' pension fund, could collect $595K in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Susan Larkin, who retired in June 2018, saved $43,090 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Larkin would collect as much as $595,442, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Larkin received $12,515 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Larkin will have already received $52,357 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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