Quantcast

West Cook News

Monday, December 23, 2024

Former state school employee Green paid in $100K to teachers' pension fund, could collect $1.41M in retirement

Shutterstock 121161052

Former state school employee William Green, who retired in June 2016, saved $99,707 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Green would collect as much as $1.41 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Green received $29,589 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Green will have already received $123,790 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