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Rockford Sun

Saturday, November 23, 2024

Former state school employee Rader paid in $7K to teachers' pension fund, could collect $149K in retirement

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Former state school employee Robert Rader, who retired in March 2017, saved $6,576 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rader would collect as much as $149,428, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Rader received $3,140 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rader will have already received $9,705 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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