Former state school employee Vaughn paid in $11K to teachers' pension fund, could collect $430K in retirement

By East Central Reporter Reports

Feb 1, 2016

Former state school employee Cynthia Vaughn, who retired in January 2016, saved $11,415 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Vaughn would collect as much as $430,456, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Vaughn received $9,047 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Vaughn will have already received $18,365 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Richland County Community Unit School District 1

!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