Quantcast

DeKalb Times

Tuesday, April 23, 2024

Former state school employee Zager paid in $84K to teachers' pension fund, could collect $1.46M in retirement

Money041

Former state school employee Regina Zager, who retired in September 2018, saved $83,830 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, Zager would collect as much as $1.46 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Zager received $30,767 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zager will have already received $95,098 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