Former state school employee Pickering paid in $89K to teachers' pension fund, could collect $1.42M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Julie Pickering, who retired in June 2016, saved $89,047 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pickering would collect as much as $1.42 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Pickering received $29,944 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pickering will have already received $92,553 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rockford School District 205

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