West Central Reporter

West Central Reporter

Monday, November 18, 2019

Former state school employee Bollin paid in $2K to teachers' pension fund, could collect $61K in retirement

Schools

By Local Labs News Service | Feb 1, 2016

Money 06

Former state school employee Carol Bollin, who retired in January 2016, saved $2,418 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bollin would collect as much as $61,343, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Bollin received $1,289 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bollin will have already received $2,617 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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