Quantcast

North Cook News

Friday, November 22, 2024

Former state school employee Scalise paid in $20K to teachers' pension fund, could collect $959K in retirement

Money 02

Former state school employee Jeannette Scalise, who retired in February 2016, saved $20,270 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Scalise would collect as much as $959,029, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Scalise received $20,158 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Scalise will have already received $40,921 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