Quantcast

Chambana Sun

Sunday, November 24, 2024

Former state school employee Bergan paid in $90K to teachers' pension fund, could collect $1.74M in retirement

Shutterstock 381111379

Former state school employee Patricia Bergan, who retired in June 2017, saved $89,926 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bergan would collect as much as $1.74 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Bergan received $36,640 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bergan will have already received $113,250 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