Quantcast

Sangamon Sun

Friday, April 19, 2024

Former state school employee Riedl paid in $143K to teachers' pension fund, could collect $3.8M in retirement

Shutterstock 262120544

Former state school employee Judy Riedl, who retired in June 2016, saved $143,446 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Riedl would collect as much as $3.8 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Riedl received $79,875 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Riedl will have already received $162,146 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