Quantcast

Chambana Sun

Monday, November 25, 2024

Former state school employee Enos paid in $56K to teachers' pension fund, could collect $1.61M in retirement

Money 02

Former state school employee Douglas Enos, who retired in June 2016, saved $56,390 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Enos would collect as much as $1.61 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Enos received $33,768 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Enos will have already received $68,549 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