Quantcast

North Egypt News

Sunday, November 24, 2024

Former state school employee Pauls paid in $4K to teachers' pension fund, could collect $187K in retirement

Shutterstock 369740408

Former state school employee Teresa Pauls, who retired in July 2016, saved $4,428 toward a pension over 3 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pauls would collect as much as $187,074, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Pauls received $3,932 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Pauls will have already received $7,982 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