Quantcast

Sangamon Sun

Thursday, November 21, 2024

Former state school employee Kidd paid in $75K to teachers' pension fund, could collect $1.28M in retirement

Money 03

Former state school employee Janice Kidd, who retired in July 2016, saved $75,241 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kidd would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kidd received $26,985 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kidd will have already received $83,409 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