Former state school employee Broadway paid in $34K to teachers' pension fund, could collect $1.11M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Cathy Broadway, who retired in May 2016, saved $34,438 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Broadway would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Broadway received $23,430 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Broadway will have already received $47,563 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Pope County Community Unit School District 1

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