Quantcast

Southern Illinois News

Friday, November 22, 2024

Former state school employee Holshouser paid in $115K to teachers' pension fund, could collect $2.1M in retirement

Money 03

Former state school employee Monica Holshouser, who retired in June 2017, saved $115,287 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Holshouser would collect as much as $2.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Holshouser received $44,070 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Holshouser will have already received $136,216 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