Quantcast

Sangamon Sun

Sunday, December 22, 2024

Former state school employee Shier paid in $50K to teachers' pension fund, could collect $717K in retirement

Shutterstock 65427295

Former state school employee Jeannea Shier, who retired in June 2018, saved $49,621 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Shier would collect as much as $717,439, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Shier received $15,080 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Shier will have already received $63,088 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