Former state school employee Divine paid in $101K to teachers' pension fund, could collect $2.09M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Linda Divine, who retired in June 2016, saved $100,676 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Divine would collect as much as $2.09 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Divine received $43,926 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Divine will have already received $135,771 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Dekalb Community Unit School District 428

!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