South Cook News

South Cook News

Wednesday, February 26, 2020

Former state school employee Christie paid in $25K to teachers' pension fund, could collect $679K in retirement


By Local Labs News Service | Dec 1, 2018

Money 01

Former state school employee Scott Christie, who retired in November 2018, saved $24,655 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Christie would collect as much as $679,394, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Christie received $14,280 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Christie will have already received $28,988 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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