Quantcast

North Egypt News

Thursday, November 21, 2024

Former state school employee Stone paid in $138K to teachers' pension fund, could collect $3.79M in retirement

Shutterstock 267646277

Former state school employee Susan Stone, who retired in May 2016, saved $138,349 toward a pension over 45 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Stone would collect as much as $3.79 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Stone received $79,702 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Stone will have already received $161,795 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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