Quantcast

Southern Illinois News

Tuesday, November 5, 2024

Former state school employee Miller paid in $24K to teachers' pension fund, could collect $294K in retirement

Money 04

Former state school employee Carlene Miller, who retired in May 2016, saved $24,419 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Miller would collect as much as $294,467, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Miller received $6,189 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Miller will have already received $25,893 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