Quantcast

South Cook News

Monday, May 20, 2024

Former state school employee Dejong paid in $141K to teachers' pension fund, could collect $2.72M in retirement

Money 08

Former state school employee Mary Dejong, who retired in June 2016, saved $141,484 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dejong would collect as much as $2.72 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Dejong received $57,238 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dejong will have already received $176,917 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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