Quantcast

West Cook News

Thursday, April 25, 2024

Former state school employee Graham paid in $145K to teachers' pension fund, could collect $2.81M in retirement

Shutterstock 262120544

Former state school employee Richard Graham, who retired in May 2018, saved $145,267 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Graham would collect as much as $2.81 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Graham received $59,100 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Graham will have already received $182,672 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