Former state school employee Friese paid in $3K to teachers' pension fund, could collect $206K in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Pamela Friese, who retired in May 2016, saved $3,067 toward a pension over 3 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Friese would collect as much as $205,725, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Friese received $4,324 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Friese will have already received $4,324 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