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North Egypt News

Sunday, November 24, 2024

Former state school employee Sink paid in $83K to teachers' pension fund, could collect $1.52M in retirement

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Former state school employee Brenda Sink, who retired in June 2016, saved $83,011 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sink would collect as much as $1.52 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Sink received $31,910 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sink will have already received $98,630 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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