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Kendall County Times

Saturday, November 23, 2024

Former state school employee Watson paid in $78K to teachers' pension fund, could collect $1.65M in retirement

Money 07

Former state school employee Melissa Watson, who retired in June 2016, saved $77,799 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Watson would collect as much as $1.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Watson received $34,741 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Watson will have already received $107,380 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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