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Carbondale Reporter

Monday, May 20, 2024

Former state school employee Rushing paid in $58K to teachers' pension fund, could collect $811K in retirement

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Former state school employee Katherine Rushing, who retired in May 2018, saved $57,638 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rushing would collect as much as $810,936, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Rushing received $17,045 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Rushing will have already received $71,309 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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