Quantcast

North Egypt News

Saturday, November 23, 2024

Former state school employee Delk paid in $40K to teachers' pension fund, could collect $491K in retirement

Shutterstock 469426916

Former state school employee Valerie Delk, who retired in May 2016, saved $40,322 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Delk would collect as much as $491,092, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Delk received $10,322 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Delk will have already received $43,185 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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