Quantcast

Will County Gazette

Saturday, April 20, 2024

Former state school employee Williams paid in $111K to teachers' pension fund, could collect $1.83M in retirement

Money 05

Former state school employee Kathleen Williams, who retired in May 2018, saved $110,920 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Williams would collect as much as $1.83 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Williams received $38,543 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Williams will have already received $119,132 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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