Quantcast

Chambana Sun

Saturday, November 23, 2024

Former state school employee Holliday paid in $45K to teachers' pension fund, could collect $890K in retirement

Shutterstock 65427295

Former state school employee Beverly Holliday, who retired in October 2016, saved $44,656 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Holliday would collect as much as $889,704, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Holliday received $18,700 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Holliday will have already received $57,800 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