Former state school employee Ford paid in $182K to teachers' pension fund, could collect $3.18M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Denise Ford, who retired in June 2018, saved $181,504 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ford would collect as much as $3.18 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Ford received $66,756 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ford will have already received $206,337 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Southwest Cook Coop Spec Educ

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate