Quantcast

Chambana Sun

Sunday, November 24, 2024

Former state school employee Eells paid in $154K to teachers' pension fund, could collect $3.45M in retirement

Money 01

Former state school employee Lori Eells, who retired in June 2017, saved $154,064 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, Eells would collect as much as $3.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Eells received $72,543 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eells will have already received $224,223 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS