Quantcast

Sangamon Sun

Monday, September 30, 2024

Former state school employee Godbey paid in $83K to teachers' pension fund, could collect $1.49M in retirement

Shutterstock 113962678

Former state school employee Cynthia Godbey, who retired in June 2017, saved $82,824 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Godbey would collect as much as $1.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Godbey received $31,286 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Godbey will have already received $96,703 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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