Quantcast

Sangamon Sun

Saturday, November 23, 2024

Former state school employee Seymour paid in $113K to teachers' pension fund, could collect $2.3M in retirement

Shutterstock 121161052

Former state school employee Lea Seymour, who retired in June 2016, saved $112,905 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Seymour would collect as much as $2.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Seymour received $48,386 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Seymour will have already received $149,557 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