Quantcast

DeKalb Times

Friday, November 22, 2024

Former state school employee Wilson paid in $147K to teachers' pension fund, could collect $3.05M in retirement

Shutterstock 233512279

Former state school employee Deborah Wilson, who retired in May 2018, saved $146,639 toward a pension over 26 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 $3.05 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Wilson received $64,004 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wilson will have already received $197,830 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS