Former state school employee Lemke paid in $51K to teachers' pension fund, could collect $720K in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Judy Lemke, who retired in June 2016, saved $50,511 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lemke would collect as much as $719,797, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Lemke received $15,129 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lemke will have already received $63,294 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Mount Vernon Township High School District 201 Board

!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