Former state school employee Perkins paid in $72K to teachers' pension fund, could collect $1.96M in retirement

By South West Illinois News Reports

Mar 1, 2016

Former state school employee Kathy Perkins, who retired in February 2016, saved $71,970 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Perkins would collect as much as $1.96 million, according to a projection by Local Government Information Services (LGIS), which publishes SW Illinois News.

The projection assumes Perkins received $41,203 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Perkins will have already received $83,642 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Waterloo Community Unit School District 5 Board

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