Former state school employee Ellison paid in $114K to teachers' pension fund, could collect $2.09M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Glenn Ellison, who retired in June 2018, saved $114,326 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ellison would collect as much as $2.09 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Ellison received $43,843 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ellison will have already received $135,514 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Hoover-Schrum Memorial School District 157

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