Quantcast

Grundy Reporter

Wednesday, December 25, 2024

Former state school employee Campbell paid in $113K to teachers' pension fund, could collect $1.47M in retirement

Shutterstock 450769633

Former state school employee Janet Campbell, who retired in April 2016, saved $112,629 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Campbell would collect as much as $1.47 million, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Campbell received $30,800 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Campbell will have already received $128,856 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