Former state school employee Yates paid in $83K to teachers' pension fund, could collect $1.26M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Sarah Yates, who retired in June 2016, saved $83,106 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Yates would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Yates received $26,422 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Yates will have already received $110,540 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Kirby School District 140 Board

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