Quantcast

Chambana Sun

Saturday, November 23, 2024

Former state school employee Wadleigh paid in $48K to teachers' pension fund, could collect $770K in retirement

Shutterstock 469426916

Former state school employee Steven Wadleigh, who retired in May 2016, saved $48,209 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wadleigh would collect as much as $770,333, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Wadleigh received $16,191 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wadleigh will have already received $50,045 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