Quantcast

Sangamon Sun

Wednesday, April 24, 2024

Former state school employee Fulton paid in $93K to teachers' pension fund, could collect $1.82M in retirement

Shutterstock 225154648

Former state school employee Mary Fulton, who retired in June 2018, saved $93,480 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, Fulton would collect as much as $1.82 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Fulton received $38,210 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fulton will have already received $118,103 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