Quantcast

South Cook News

Thursday, December 26, 2024

Former state school employee Wilson paid in $229K to teachers' pension fund, could collect $5.89M in retirement

Money 01

Former state school employee Nancy Wilson, who retired in July 2016, saved $228,562 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, Wilson would collect as much as $5.89 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Wilson received $123,874 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wilson will have already received $251,464 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