Former state school employee Jebens paid in $263K to teachers' pension fund, could collect $6.22M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee Allen Jebens, who retired in July 2016, saved $262,581 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jebens would collect as much as $6.22 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Jebens received $130,641 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Jebens will have already received $265,201 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Arbor Park School District 145

!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