Quantcast

South Cook News

Sunday, June 2, 2024

Former state school employee Evbuoma paid in $251K to teachers' pension fund, could collect $5.25M in retirement

Shutterstock 373239541

Former state school employee Ava Evbuoma, who retired in June 2017, saved $250,556 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Evbuoma would collect as much as $5.25 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Evbuoma received $110,253 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Evbuoma will have already received $340,782 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