Former state school employee Webster paid in $123K to teachers' pension fund, could collect $3.13M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Leslie Webster, who retired in May 2016, saved $123,129 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Webster would collect as much as $3.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Webster received $65,759 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Webster will have already received $133,491 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Meridian Community Unit School District 101

!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