Quantcast

Chambana Sun

Thursday, April 25, 2024

Former state school employee Tate paid in $102K to teachers' pension fund, could collect $1.79M in retirement

Shutterstock 373239541

Former state school employee Terri Tate, who retired in June 2018, saved $102,105 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Tate would collect as much as $1.79 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Tate received $37,553 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Tate will have already received $116,073 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