Monday, January 27, 2020

Former state school employee Albrecht paid in $17K to teachers' pension fund, could collect $889K in retirement

By Local Labs News Service | Jan 1, 2019

Shutterstock 113962678

Former state school employee Susan Albrecht, who retired in December 2018, saved $16,652 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, Albrecht would collect as much as $889,036, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Albrecht received $18,686 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Albrecht will have already received $18,686 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Downers Grove Grade School District 58 ?

Sign-up Next time we write about Downers Grove Grade School District 58, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.