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Grundy Reporter

Tuesday, April 16, 2024

Former state school employee Jacklin paid in $4K to teachers' pension fund, could collect $105K in retirement

Money 08

Former state school employee Ned Jacklin, who retired in March 2018, saved $4,170 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, Jacklin would collect as much as $104,726, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Jacklin received $2,201 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Jacklin will have already received $4,468 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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