Former state school employee Alexander Carter paid in $99K to teachers' pension fund, could collect $1.4M in retirement

By West Cook News

Jul 1, 2017

Former state school employee Debra Alexander Carter, who retired in June 2017, saved $99,155 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, Alexander Carter would collect as much as $1.4 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Alexander Carter received $29,343 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Alexander Carter will have already received $122,760 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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