Quantcast

West Central Reporter

Saturday, November 23, 2024

Former state school employee Black paid in $101K to teachers' pension fund, could collect $2.12M in retirement

Money 06

Former state school employee Vicki Black, who retired in May 2016, saved $100,858 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Black would collect as much as $2.12 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Black received $44,511 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Black will have already received $137,578 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