Quantcast

Will County Gazette

Saturday, November 23, 2024

Former state school employee Estep paid in $176K to teachers' pension fund, could collect $4.06M in retirement

Shutterstock 381111379

Former state school employee Robin Estep, who retired in July 2016, saved $175,507 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Estep would collect as much as $4.06 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Estep received $85,441 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Estep will have already received $264,089 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