Former state school employee Rogers paid in $105K to teachers' pension fund, could collect $2.3M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Glenna Rogers, who retired in June 2016, saved $104,580 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rogers would collect as much as $2.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Rogers received $48,351 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rogers will have already received $149,449 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