Quantcast

North Egypt News

Saturday, November 23, 2024

Former state school employee Prior paid in $135K to teachers' pension fund, could collect $2.6M in retirement

Money 05

Former state school employee Kathryn Prior, who retired in May 2016, saved $134,968 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Prior would collect as much as $2.6 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Prior received $54,570 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Prior will have already received $168,670 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