Quantcast

North Egypt News

Friday, November 8, 2024

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

Shutterstock 469426916

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.

!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