Quantcast

East Central Reporter

Thursday, December 26, 2024

Former state school employee Field paid in $88K to teachers' pension fund, could collect $1.77M in retirement

Shutterstock 267646277

Former state school employee Mary Field, who retired in May 2016, saved $87,998 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Field would collect as much as $1.77 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Field received $37,305 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Field will have already received $115,306 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