Former state school employee Wolaver paid in $153K to teachers' pension fund, could collect $3.57M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Christine Wolaver, who retired in June 2016, saved $153,097 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wolaver would collect as much as $3.57 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Wolaver received $75,074 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wolaver will have already received $232,046 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Schaumburg School District 54

!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