Quantcast

Will County Gazette

Monday, November 25, 2024

Former state school employee Bayci paid in $43K to teachers' pension fund, could collect $843K in retirement

Shutterstock 385535740

Former state school employee Anna Bayci, who retired in May 2016, saved $42,680 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bayci would collect as much as $843,026, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Bayci received $17,719 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bayci will have already received $54,769 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