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Rockford Sun

Sunday, May 19, 2024

Former state school employee Epperson paid in $118K to teachers' pension fund, could collect $2.46M in retirement

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Former state school employee Susan Epperson, who retired in June 2016, saved $117,676 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Epperson would collect as much as $2.46 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Epperson received $51,635 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Epperson will have already received $159,599 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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