Quantcast

Will County Gazette

Tuesday, April 16, 2024

Former state school employee Abney paid in $160K to teachers' pension fund, could collect $3.3M in retirement

Money 04

Former state school employee Barbara Abney, who retired in June 2016, saved $159,838 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Abney would collect as much as $3.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Abney received $69,433 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Abney will have already received $214,610 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