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Chambana Sun

Monday, November 25, 2024

Former state school employee Wingler paid in $96K to teachers' pension fund, could collect $1.83M in retirement

Money759

Former state school employee Lynda Wingler, who retired in June 2016, saved $95,565 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, Wingler would collect as much as $1.83 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Wingler received $38,562 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wingler will have already received $119,192 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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