Quantcast

South Cook News

Tuesday, December 24, 2024

Former state school employee Fleming paid in $23K to teachers' pension fund, could collect $294K in retirement

Shutterstock 262120544

Former state school employee Katherine Fleming, who retired in June 2016, saved $22,534 toward a pension over 4 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fleming would collect as much as $293,890, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Fleming received $6,177 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Fleming will have already received $25,842 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