Quantcast

Chambana Sun

Wednesday, April 24, 2024

Former state school employee Daugherty paid in $4K to teachers' pension fund, could collect $120K in retirement

Shutterstock 262120544

Former state school employee Joann Daugherty, who retired in February 2018, saved $3,871 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Daugherty would collect as much as $120,386, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Daugherty received $2,530 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Daugherty will have already received $5,136 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