Quantcast

West Central Reporter

Tuesday, November 26, 2024

Former state school employee Bigley paid in $118K to teachers' pension fund, could collect $2.81M in retirement

Money836

Former state school employee Donald Bigley, who retired in June 2016, saved $117,813 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

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

The projection assumes Bigley received $59,128 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bigley will have already received $120,030 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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