Former state school employee Fouts paid in $197K to teachers' pension fund, could collect $3.79M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Teresa Fouts, who retired in May 2016, saved $196,829 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fouts would collect as much as $3.79 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Fouts received $79,622 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fouts will have already received $246,104 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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