Former state school employee Ford paid in $20K to teachers' pension fund, could collect $901K in retirement

By Local Labs News Service

Oct 1, 2017

Former state school employee Susan Ford, who retired in September 2017, saved $20,126 toward a pension over 12 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 $901,065, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Ford received $18,939 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ford will have already received $38,446 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Schaumburg School District 54

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