Quantcast

Dupage Policy Journal

Monday, November 25, 2024

Former state school employee Africh paid in $7K to teachers' pension fund, could collect $147K in retirement

Money836

Former state school employee James Africh, who retired in May 2017, saved $7,192 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Africh would collect as much as $147,424, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Africh received $3,098 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Africh will have already received $9,576 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