Quantcast

Sangamon Sun

Thursday, April 18, 2024

Former state school employee Leenig paid in $159K to teachers' pension fund, could collect $3.78M in retirement

Money 02

Former state school employee Pamela Leenig, who retired in June 2018, saved $158,920 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Leenig would collect as much as $3.78 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Leenig received $79,392 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Leenig will have already received $161,166 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