Former state school employee Knapp paid in $18K to teachers' pension fund, could collect $414K in retirement

By West Cook News

Apr 1, 2018

Former state school employee Dianne Knapp, who retired in March 2018, saved $17,688 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Knapp would collect as much as $413,888, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Knapp received $8,699 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Knapp will have already received $26,888 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Cicero School District 99 Board

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate