Former state school employee Lott Jackson paid in $106K to teachers' pension fund, could collect $1.98M in retirement

By West Cook News

Jul 1, 2016

Former state school employee Annie Lott Jackson, who retired in June 2016, saved $105,851 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lott Jackson would collect as much as $1.98 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Lott Jackson received $41,524 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lott Jackson will have already received $128,347 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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