Former state school employee Stephens paid in $118K to teachers' pension fund, could collect $2.11M in retirement

By West Cook News

Jul 1, 2016

Former state school employee Paula Stephens, who retired in June 2016, saved $117,535 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Stephens would collect as much as $2.11 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Stephens received $44,437 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stephens will have already received $137,350 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Riverside School District 96

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