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DeKalb Times

Friday, November 22, 2024

Former state school employee Greenberg paid in $23K to teachers' pension fund, could collect $911K in retirement

Money272

Former state school employee Robin Greenberg, who retired in September 2016, saved $23,173 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Greenberg would collect as much as $911,204, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Greenberg received $19,152 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Greenberg will have already received $38,879 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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