Quantcast

Will County Gazette

Tuesday, April 16, 2024

Former state school employee Heifner paid in $6K to teachers' pension fund, could collect $358K in retirement

Shutterstock 381111379

Former state school employee Deborah Heifner, who retired in December 2016, saved $6,136 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Heifner would collect as much as $358,037, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Heifner received $7,525 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Heifner will have already received $7,525 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