Former state school employee Partridge paid in $95K to teachers' pension fund, could collect $1.48M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Craig Partridge, who retired in May 2017, saved $95,459 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Partridge would collect as much as $1.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Partridge received $31,159 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Partridge will have already received $96,310 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Cobden Unit District 17

!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