Quantcast

Will County Gazette

Saturday, November 23, 2024

Former state school employee Strother Adams paid in $16K to teachers' pension fund, could collect $1.09M in retirement

Shutterstock 373239541

Former state school employee Pearlie Strother Adams, who retired in June 2016, saved $16,122 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Strother Adams would collect as much as $1.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Strother Adams received $22,835 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Strother Adams will have already received $22,835 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