South Cook News

South Cook News

Sunday, December 15, 2019

Former state school employee Jimerson paid in $8K to teachers' pension fund, could collect $99K in retirement


By Local Labs News Service | Jan 1, 2018

Shutterstock 113962678

Former state school employee Chauncey Jimerson, who retired in December 2017, saved $8,396 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jimerson would collect as much as $98,595, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Jimerson received $2,072 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Jimerson will have already received $8,668 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Bloom Township High School District 206 ?

Sign-up Next time we write about Bloom Township High School District 206, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Bloom Township High School District 206

More News