Quantcast

North Cook News

Thursday, April 25, 2024

Former state school employee Gatlin paid in $13K to teachers' pension fund, could collect $216K in retirement

Money 05

Former state school employee Judith Gatlin, who retired in October 2016, saved $13,035 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, Gatlin would collect as much as $216,201, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Gatlin received $4,544 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gatlin will have already received $14,044 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