Former state school employee Franklin paid in $162K to teachers' pension fund, could collect $2.73M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Victoria Franklin, who retired in June 2016, saved $162,078 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, Franklin would collect as much as $2.73 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Franklin received $57,438 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Franklin will have already received $177,535 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Midlothian School District 143

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