Quantcast

South Cook News

Friday, December 27, 2024

Former state school employee Sues paid in $77K to teachers' pension fund, could collect $1.27M in retirement

Money 06

Former state school employee Suellen Sues, who retired in June 2016, saved $76,522 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, Sues would collect as much as $1.27 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Sues received $26,798 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sues will have already received $82,830 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