Quantcast

SE Illinois News

Friday, November 22, 2024

Former state school employee Short paid in $10K to teachers' pension fund, could collect $549K in retirement

Shutterstock 225154648

Former state school employee Rachel Short, who retired in March 2016, saved $10,203 toward a pension over 4 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Short would collect as much as $548,942, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Short received $11,538 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Short will have already received $11,538 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS