Quantcast

North Egypt News

Saturday, April 20, 2024

Former state school employee Miller paid in $5K to teachers' pension fund, could collect $107K in retirement

Money 08

Former state school employee Carolyn Miller, who retired in February 2018, saved $4,834 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, Miller would collect as much as $106,856, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Miller received $2,246 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Miller will have already received $6,941 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