Quantcast

West Cook News

Tuesday, April 16, 2024

Former state school employee Fenbert paid in $183K to teachers' pension fund, could collect $4.05M in retirement

Shutterstock 225154648

Former state school employee Audrey Fenbert, who retired in June 2017, saved $183,456 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fenbert would collect as much as $4.05 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Fenbert received $85,201 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fenbert will have already received $263,348 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