Former state school employee Charles paid in $202K to teachers' pension fund, could collect $4.49M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Kristie Charles, who retired in May 2018, saved $202,224 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, Charles would collect as much as $4.49 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Charles received $94,480 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Charles will have already received $292,027 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Palatine Community Consolidated School District 15 Board

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