Former state school employee Jones paid in $151K to teachers' pension fund, could collect $3.25M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Janet Jones, who retired in June 2016, saved $150,775 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jones would collect as much as $3.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Jones received $68,409 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jones will have already received $211,445 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Kendall Cnty Special Educ

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