Will County Gazette

Will County Gazette

Saturday, December 7, 2019

Former state school employee Sayers paid in $53K to teachers' pension fund, could collect $879K in retirement

Schools

By Local Labs News Service | Jun 1, 2016

Shutterstock 267646277

Former state school employee Debra Sayers, who retired in May 2016, saved $53,150 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sayers would collect as much as $879,370, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Sayers received $18,483 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sayers will have already received $57,128 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Braceville School District 75 ?

Sign-up Next time we write about Braceville School District 75, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Braceville School District 75

More News