Quantcast

Dupage Policy Journal

Saturday, April 20, 2024

Former state school employee Rabatah paid in $32K to teachers' pension fund, could collect $483K in retirement

Shutterstock 121161052

Former state school employee Denise Rabatah, who retired in October 2017, saved $31,533 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rabatah would collect as much as $483,191, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Rabatah received $10,156 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Rabatah will have already received $42,490 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS