Former state school employee Fox paid in $222K to teachers' pension fund, could collect $5.12M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Kathleen Fox, who retired in June 2017, saved $221,985 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, Fox would collect as much as $5.12 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Fox received $107,701 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fox will have already received $332,893 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Township High School District 214 Board

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