Former state school employee Matthews paid in $175K to teachers' pension fund, could collect $3.68M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee Debora Matthews, who retired in July 2016, saved $175,316 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Matthews would collect as much as $3.68 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Matthews received $77,387 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Matthews will have already received $239,196 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rich Township High School District 227

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