North Cook News

North Cook News

Sunday, January 26, 2020

Former state school employee Anderson paid in $5K to teachers' pension fund, could collect $270K in retirement

Schools

By Local Labs News Service | Sep 1, 2018

Money 04

Former state school employee Ellen Anderson, who retired in August 2018, saved $4,986 toward a pension over 3 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Anderson would collect as much as $270,266, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Anderson received $5,680 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Anderson will have already received $5,680 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Prospect Heights School District 23 ?

Sign-up Next time we write about Prospect Heights School District 23, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Prospect Heights School District 23

More News