Quantcast

South Cook News

Thursday, April 25, 2024

Former state school employee Amudoaghan paid in $54K to teachers' pension fund, could collect $1.07M in retirement

Shutterstock 369740408

Former state school employee Walnette Amudoaghan, who retired in January 2018, saved $53,854 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Amudoaghan would collect as much as $1.07 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Amudoaghan received $22,526 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Amudoaghan will have already received $69,626 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