Former state school employee France paid in $285K to teachers' pension fund, could collect $3.98M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Katherine France, who retired in May 2016, saved $284,919 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, France would collect as much as $3.98 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes France received $83,716 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, France will have already received $350,235 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Niles Township Community High School District 219 Board

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