Former state school employee Thomas paid in $83K to teachers' pension fund, could collect $1.24M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Terri Thomas, who retired in May 2016, saved $82,595 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Thomas would collect as much as $1.24 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Thomas received $26,028 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Thomas will have already received $108,891 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Salt Fork Community Unit School District 512

!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