Quantcast

Sangamon Sun

Sunday, December 22, 2024

Former state school employee Kline paid in $130K to teachers' pension fund, could collect $1.95M in retirement

Money 03

Former state school employee Lesa Kline, who retired in August 2017, saved $129,826 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kline would collect as much as $1.95 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kline received $40,890 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kline will have already received $171,070 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