Former state school employee Legrand paid in $71K to teachers' pension fund, could collect $1.15M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Mary Legrand, who retired in June 2018, saved $71,418 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Legrand would collect as much as $1.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Legrand received $24,088 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Legrand will have already received $74,454 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