Former state school employee Donovan paid in $46K to teachers' pension fund, could collect $697K in retirement

By Local Labs News Service

Sep 1, 2017

Former state school employee Suzanne Donovan, who retired in August 2017, saved $45,826 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, Donovan would collect as much as $696,544, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Donovan received $14,640 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Donovan will have already received $61,247 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Brookwood School District 167

!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