Former state school employee George paid in $23K to teachers' pension fund, could collect $330K in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Catherine George, who retired in May 2018, saved $22,760 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, George would collect as much as $329,691, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes George received $6,929 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, George will have already received $28,989 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Joliet Public School District 86

!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