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Quincy Reporter

Wednesday, April 2, 2025

Former state school employee Rigsbee paid in $36K to teachers' pension fund, could collect $1.65M in retirement

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Former state school employee David Rigsbee, who retired in June 2016, saved $35,549 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rigsbee would collect as much as $1.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Quincy Reporter.

The projection assumes Rigsbee received $34,719 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rigsbee will have already received $70,480 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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