Quantcast

Southern Illinois News

Tuesday, November 5, 2024

Former state school employee Bailey paid in $8K to teachers' pension fund, could collect $236K in retirement

Shutterstock 443523118

Former state school employee Suzann Bailey, who retired in June 2017, saved $8,297 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bailey would collect as much as $235,789, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Bailey received $4,956 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bailey will have already received $10,061 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