Former state school employee Weber paid in $13K to teachers' pension fund, could collect $632K in retirement

By Local Labs News Service

Sep 1, 2017

Former state school employee Judith Weber, who retired in August 2017, saved $12,812 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Weber would collect as much as $631,957, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Weber received $13,283 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Weber will have already received $13,283 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

South Will Cnty Coop Spec Ed

!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