Quantcast

Sangamon Sun

Monday, November 25, 2024

Former state school employee Regan paid in $182K to teachers' pension fund, could collect $4.43M in retirement

Shutterstock 121161052

Former state school employee Richard Regan, who retired in July 2016, saved $182,028 toward a pension over 41 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Regan would collect as much as $4.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Regan received $93,133 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Regan will have already received $189,060 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