Quantcast

Grundy Reporter

Monday, December 23, 2024

Former state school employee Seitz Dennis paid in $120K to teachers' pension fund, could collect $2.98M in retirement

Money 03

Former state school employee Kathryn Seitz Dennis, who retired in December 2016, saved $119,830 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Seitz Dennis would collect as much as $2.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Seitz Dennis received $62,552 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Seitz Dennis will have already received $126,981 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