Quantcast

Sangamon Sun

Monday, December 23, 2024

Former state school employee Conerton paid in $126K to teachers' pension fund, could collect $2.9M in retirement

Shutterstock 434242897

Former state school employee Mary Conerton, who retired in May 2017, saved $126,395 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Conerton would collect as much as $2.9 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Conerton received $60,911 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Conerton will have already received $188,269 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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