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Sangamon Sun

Tuesday, April 16, 2024

Former state school employee Fink paid in $11K to teachers' pension fund, could collect $254K in retirement

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Former state school employee Betty Fink, who retired in May 2017, saved $11,122 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fink would collect as much as $254,298, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Fink received $5,345 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fink will have already received $16,520 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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