North Cook News

North Cook News

Tuesday, January 21, 2020

Former state school employee Flemming paid in $218K to teachers' pension fund, could collect $5.12M in retirement


By Local Labs News Service | Jul 1, 2016

Shutterstock 450769633

Former state school employee Catherine Flemming, who retired in June 2016, saved $217,723 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Flemming would collect as much as $5.12 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Flemming received $107,580 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Flemming will have already received $218,387 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 Wilmette School District 39 ?

Sign-up Next time we write about Wilmette School District 39, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Wilmette School District 39

More News