Former state school employee Anderson paid in $87K to teachers' pension fund, could collect $1.87M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Christine Anderson, who retired in May 2016, saved $87,080 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Anderson would collect as much as $1.87 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Anderson received $39,244 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Anderson will have already received $121,299 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Princeton Elementary School District 115

!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