Quantcast

Dupage Policy Journal

Tuesday, December 24, 2024

Former state school employee Evans paid in $86K to teachers' pension fund, could collect $1.63M in retirement

Shutterstock 262120544

Former state school employee Julie Evans, who retired in December 2016, saved $85,722 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Evans would collect as much as $1.63 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Evans received $34,218 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Evans will have already received $105,765 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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